Multiligamentous knee injuries (MLKIs) are devastating injuries. The energy and severity of these injuries encompass a wide range from low-energy single-joint mechanisms to high-energy polytrauma settings. Currently, there is no consensus on surgical treatment approach, surgical timing, or the return to preinjury activity levels after injury. There does appear to be a difference in the rate of return to activity and level of activity based on whether the injury was sustained during sport, in a trauma setting, or while on active military duty. The purpose of this descriptive review was to summarize current concepts related to (1) the acute management of MLKIs; (2) the effect of concomitant neurovascular, meniscal, and chondral injury on MLKI outcomes; (3) the effect of surgical versus nonsurgical treatment of MLKI on outcomes; and (4) rates and predictors of return to sport, work, and active military service after an MLKI.