Extracellular polymeric substances (EPS) are crucial in sewage sludge management, influencing key processes such as sedimentation, dewatering, and drying. Despite their importance, the lack of standardized methods for EPS extraction and analysis has led to inconsistent research findings, hindering a thorough understanding of EPS's role in sludge treatment. This review paper addresses this issue by critically comparing various EPS extraction and analysis methods, emphasizing the urgent need for standardization in the field. Standardized methodologies will enable researchers to compare studies more accurately and derive meaningful insights into EPS's role across different stages of sludge treatment, ultimately advancing EPS knowledge and application in sludge management. Additionally, this paper summarizes findings from numerous studies on EPS impact in sedimentation, dewatering, and drying, offering a holistic view of their significance in sludge management. Moreover, it explores the potential EPS applications, highlighting both the future directions and the challenges associated with their production.