Precision forestry is a new direction for better forest management. Precision forestry employs information technology and analytical tools to support economic, environmental and sustainable decision; the use of geospatial information tools enables highly repeatable measurements, actions and processes to manage and harvest forest stands, simultaneously allowing information linkages between production and wood supply chain, including resource managers and environmental community. In this contribution, we reviewed the most recent advances in the use of geospatial information technologies in forestry, and discussed their potential opportunities and challenges towards forest management and planning in the framework of precision forestry.