The Tibetan Plateau (TP), located at a height of nearly 4000 m above sea level, has a unique setting that effects the environment of the whole of northern hemisphere. It acts as the “water reservoir” of Asia as several important rivers originate from this region. Therefore, even slight alternations in the TP’s hydrological cycle may have profound ecological and social impacts. However, it is experiencing a significant increase in accumulation of dust from local and global sources. The impact of dust on the region’s climate has become an active area of research. Further, the study of sources of dust arriving at the TP is also critical. Accumulation of dust is impacting temperature, snow cover, glaciers, water resources, biodiversity and soil desertification. This manuscript tries to provide a comprehensive summary of the impact of dust on weather, climate, and environmental components of the TP. The impact of dust on clouds, radiative energy, precipitation, atmospheric circulation, snow and ice cover, soil, air quality, and river water quality of the TP are discussed. It further discusses the steps immediately needed to mitigate the devastating impact of dust on the fragile ecosystem of the TP.