Abstract: The coronavirus disease 2019 (COVID-19) epidemic, caused by severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2), has caused millions of deaths worldwide. Therefore, it is critical to understand the biological basis of SARS-CoV-2 to develop novel approaches to control its spread. The SARS-CoV-2 nucleocapsid (N) protein is an important diagnostic and potent therapeutic target of the disease, as it is involved in numerous important functions in the viral life cycle. Several studies have explained the structural and functional aspects of the SARS-CoV-2 N protein. This review summarizes the currently available data on the evolutionarily conserved N protein of SARS-CoV-2 by providing detailed information on the structural and multifunctional characteristics of the N protein.