Cognitive efficiency, characterized by the rapid and accurate processing of information, significantly enhances work and learning outcomes. This efficiency manifests in improved time management, decision-making, learning capabilities, and creativity. While the influence of thermal, acoustic, and lighting conditions on cognitive performance has been extensively studied, the role of olfactory stimuli remains underexplored. Olfactory perception, distinguished by its intensity, speed of perception, and the breadth of stimuli, plays a pivotal role in cognitive efficiency. This review investigates the mechanisms through which odor environments influence cognitive performance. We analyze how odor environments can affect cognitive efficiency through two different scenarios (work and sleep) and pathways (direct and indirect effects). Current research, which mainly focuses on the interplay between odors, emotional responses, and cognitive efficiency through both subjective and objective measures, is thoroughly analyzed. We highlight existing research gaps and suggest future directions for investigating the influence of odor environments on cognitive efficiency. This review aims to establish a theoretical basis for managing and leveraging odor environments in workplace settings.