Regenerative agriculture, a farming approach that focuses on soil health and ecosystems, has recently received considerable attention, particularly as an essential element of sustainable agriculture in the context of climate change. This paper reviews quantitative evidence of regenerative agriculture's impact on productivity, resilience, and climate change mitigation-through carbon sequestration in soil. The effectiveness of regenerative agriculture depends on local climate conditions and existing practices. In addition, large-scale adoption of regenerative agriculture faces multiple challenges, such as the trade-off between short-term loss and long-term gains, smallholder farmer profitability, and other common market failures in agriculture. These challenges are especially salient in African agriculture. However, payments for ecosystem services, though yet to be carefully designed, can potentially incentivize farmers to adopt regenerative agriculture and create an additional source of income. Finally, further empirical evidence on the causal impacts of regenerative agriculture is needed to support policy design and recommendations. The paper concludes with open questions on regenerative agriculture for future study.