Invasive alien species are organisms that are non-native but dominate the native biota of an ecosystem. The damaging effects of invasive species have been documented globally. They display adverse effects on the ecosystem, and their services, biodiversity, economy and human health. The invasive species are stated to flourish more in the urban ecosystems because of several environmental disturbances and greater propagule pressure. Disturbances as a result of various anthropogenic activities like urbanization drastically alter the ecosystems. The richness of invasive species and their impact is found to increase along the urbanization gradients and they also display better physical conditions and high reproductive rates in the urban areas. Advancements in technologies has enhanced the facility for assessment and monitoring of invasive species. There is a requirement of a cohesive trans-disciplinary study for the sustainable management of invasive species. The present chapter focuses on how urbanization has contributed to the spread of alien invasive species. It also discusses the impact of invasive species on the environment, ecosystem, economy and human health. It also discusses the benefits of invasive species on the ecosystem, biodiversity and economy. It also highlights the management strategies for controlling invasive species. In addition to this, as invasive species also offer ecological and economic benefits, therefore management strategies needs to create and sustain new ecosystems that are capable of providing important ecosystem services, instead of making attempts to restore the degraded ecosystems and make it alien or invasive-free environment.