The pressures brought about by the increase in human population resulted in the rapid expansion of the food production industries including aquaculture to provide the nutritional requirements of the growing population. As aquaculture operations intensify, there is also an urgent need to preserve the environment; hence, all activities must be carried out in a sustainable way. The use of the biofloc technology (BFT) in aquaculture addresses these issues on restrictions on the usage of water and land as well as matters concerning sustainability of the production. BFT is a technique that maintains optimum water quality in the aquaculture system by manipulating the carbon and nitrogen ratios in the system. This optimum ratio favors the growth of heterotrophic bacteria that contribute in maintaining good water quality and at the same time provide sources of natural food for the cultured fish or crustaceans. In this review, the mechanisms of the biofloc technology particularly in the production of tilapia in freshwater systems are discussed. Moreover, some of the intrinsic advantages of this technology are highlighted in the context of developing and supporting backyard aquaculture of freshwater tilapias as a means of providing the food demands of the population in rural communities and as source of income for the marginalized small-scale fish farmers.