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Combining health-promoting nutrition with gastronomic novelty is a major trend currently driving the agri-food sector. Basil (Ocimum basilicum L.) is a genetically diverse aromatic vegetable crop that combines rich phytochemical composition and enticing sensory profile. The current review examines how genetic variation underlies the phytochemical composition, nutrient composition, and volatile aromatic compounds of basil. It further provides a critical assessment of preharvest factors that configure product quality, including nutrient modulation, controlled stress, biofortification, biostimulant and light management applications. Appropriate genotype selection may facilitate sustainable production of improved quality, whereas targeted preharvest applications combined with optimized light intensity and spectral quality may effectively increase the content of essential phytochemicals and micronutrients, while suppressing the accumulation of anti-nutritive agents. The application of biostimulants may further underpin the sustainability factor in basil production, especially under growth-limiting conditions. The current review constitutes a critical synopsis of all available scientific literature investigating key factors configuring the composition of basil in minerals, bioactive secondary metabolites, micronutrients and volatile aromatic compounds from 1996 to 2022. Topics warranting further research are highlighted, with emphasis placed in identifying optimal combinations within the genotype-environment-management interaction nexus that tap the physiological and molecular mechanisms responsible for improving plant performance and functional-sensory quality in basil.