Knee osteoarthritis is a common chronic joint disease worldwide, representing a significant public health problem because of its impact on pain, functionality, and quality of life. Current treatment options, including pharmacological and physical therapies, aim to manage symptoms in the early and middle stages and delay surgical interventions. Platelet-rich plasma (PRP), an orthobiological treatment, has emerged as a promising treatment offering potential benefits, such as inflammation modulation, cartilage regeneration, and symptom relief. This review evaluates the role of PRP in the management of knee osteoarthritis by analyzing recent literature and consensus reports. The therapeutic effects of PRP are attributed to its bioactive components, including growth factors and cytokines, which promote tissue healing and regulate inflammatory processes. Clinical studies have demonstrated the efficacy of PRP for pain reduction and functional improvement, particularly in patients with mild-to-moderate knee osteoarthritis. However, variability in preparation protocols, dosage, and patient characteristic influence outcomes, highlighting the need for standardized protocols. Key factors such as centrifugation technique, activation method, and leukocyte concentration significantly affect the efficacy of PRP. Consensus reports have recommended PRP as an effective and safe option for the management of knee osteoarthritis, especially in the early and middle stages, and under certain conditions, has potential application in advanced cases. Although PRP shows promise as an innovative treatment, further high-quality, long-term studies are needed to optimize the protocol. This review highlights the efficacy of PRP among conservative treatments and its potential to improve outcomes in patients with knee osteoarthritis.