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Capsicum is a genetically diverse eudicot, diploid, and self-pollinating plant that grows well in slightly warmer environments. This crop is popular in different areas of the world due to its medicinal properties and economic potential. This chapter evaluated and analyzed the Capsicum’s biology and horticultural characteristics, genetic resources, genetic diversity, phylogenetic relationships, ploidy levels, chromosome structures, genome organization, important genes, and their applications. This chapter is indispensable in Capsicum frontier research, breeding, development, management, and utilization of this economically important and highly regarded crop worldwide.