Floral senescence or petal abscission that determine cut flower quality and longevity are primarily caused by the regulation of endogenous ethylene and perception of endogenous and exogenous ethylene in floral organs (such as the petals and gynoecium), in ethylene-sensitive species. Several attempts have been made to prolong flower quality and longevity using silver ions and other chemicals that inhibit ethylene production and perception in floral organs. Among the available compounds, 1-methylcyclopropene (1-MCP) has been increasingly used as ethylene-action/perception inhibitor because of its ability to inhibit ethylene action/perception and it is environmentally safe. Although 1-MCP has been used in several cut flower crops for about 25 years, there has been no review yet that critically emphasizes the benefits or difficulties of using this compound for the prolongation of cut flower quality and longevity. Here, we outline the role of 1-MCP in inhibiting ethylene action/perception and petal senescence in cut flowers through the blocking of receptor binding sites, and we discuss how various factors affecting efficacy of 1-MCP (such as concentration, treatment time and temperature, genotype, and flower stage) are involved in the achievement of flower longevity. Moreover, we highlight the advantages of applying nonvolatile and liquid 1-MCP formulation types, as opposed to using the conventional 1-MCP treatment (powder formulation type). We expect that this review will provide useful information for the future utilization of 1-MCP for the maintenance of cut flower longevity.