Lightweight concrete is an innovative material with rich historical background, whose development continues today. This paper aims to review characteristics of lightweight concrete so we could discern its optimal applications. Advantages of lightweight concrete is its reduced weight, increased insulating properties and increased fire resistance. There are different types of lightweight concrete (lightweight aggregate concrete, cellular concrete, and no fines concrete), each type exhibits distinctive production methods, as well as distinct advantages and disadvantages. Lightweight concrete also has a specific way of production, which differs from normal concrete, so we mentioned formulas which can be used for initial dosing of the mixture. This paper also sheds light on how different standards define and govern usage of lightweight concrete. Some limitations of standards are also mentioned. Finally, several exemplary architectural structures employing lightweight concrete as a building material are showcased within this study.