One of the most useful characteristics of the science is its cumulative concept. This work was done as an attempt to contribute this nature. As many reports have revealed that petroleum based fuels are depleting and releasing harmful emissions to the natural atmosphere, law makers contemplate to eliminate or at least mitigate these issues for the near future. In order to deeply address these issues, many studies have been proposed on the usage of alternative fuels such as methanol and ethanol to diminish exhaust gas pollution released from the internal combustion engines and to replace conventional fuels with alternative fuels that have extensive feedstock. Light alcohols (methanol and ethanol) are the most promising fuels in internal combustion engines thanks to their extensive feedstock, low-emissions, low-cost and easy-adaptability to the engine technologies. It has been recorded in the recent past that many researches have worked on light alcohol effects especially in diesel engines. In the light of the previous literature, this present paper reviews the past works to identify the effects of light alcohols on performance, combustion and emissions in the internal combustion engines including the productions, economic benefits, applications, demand and supply, environmental and human impacts of light alcohols. Various applications of light alcohols in diesel engines with diesel, biodiesel, the blends of diesel/biodiesel and diesel/biodiesel/esters in the internal combustion engines are summarized.