Olfactory dysfunction affects a large proportion of the general population and causes significant personal and societal burden. At present, there are limited treatment options available. Though as yet experimental and untested in people, olfactory implants are a novel form of neuroprosthesis, modelled on existing implants for other sensory deficits such as hearing loss. Advances in this field have been rapid, yet there have been no unified efforts to collate current knowledge or guide such advances towards maximum patient benefit. In this Opinion Paper, leaders in the field have come together to provide an overview of current and emerging knowledge and technology relating to olfactory implants. In an effort to guide innovation towards maximum patient benefit, we also provide expert agreed statements on theoretical clinical aspects of olfactory implantation, including patient selection, implantation sites and potential complications, as well as post-implantation support requirements. Technical aspects will be discussed, with a clinical, device orientated focus. Finally, the ethics of olfactory implantation will be considered. We hope this document will serve as a useful roadmap to guide future clinical and basic research in the field.