Achieving the targets of the Paris Agreement as an international treaty on climate change requires global climate actions by all sectors, including ensuring that buildings are more energy efficient. Today’s modern buildings employ a worldwide well-known and versatile usable building material which is a new type of green low-carbon engineered wood product, cross-laminated timber (CLT), for their structural frames. CLT as an innovative plate-shaped product provides a laminated structure and great physicomechanical characteristics. This article studies the development status and implementation of CLT in Europe, emphasizing its material properties and load-bearing characteristics. The newest findings related to CLT are reported. Also, the environmental benefits of using CLT in the construction industry are discussed. Moreover, the energy performance and performance of the utilized CLT elements are highlighted. According to our findings, the embodied energy and embodied carbon are significantly lower in CLT constructions compared with reinforced concrete and steel structures. Finally, the prospects of CLT are presented.