Emiliania huxleyi (Lohmann) evolved from the genus Gephyrocapsa Kamptner (Prymneosiophyceae) of the coccolithophore family Naёlaerhadaceae. Over the past 100 thousand years E. huxleyi has acquired the status of the most ecologically predominant coccolithophore due to its remarkable adaptability to a variety of environmental conditions and interspecific competitiveness. E. huxleyi plays an important role in both the marine carbon system and carbon cycling between the atmosphere and ocean due to its ability to produce organic and inorganic carbon as well as to form massive blooms throughout the world ocean. This study examines both older information and recent findings to shed light on the current tendencies in the two-way interactions between E. huxleyi blooms and the immediate and global environment under conditions of climate change. The assembled knowledge has emerged from laboratory and mesocosm instrumental investigations, retrievals of satellite remote sensing data, machine learning/statistical analyses, and numerical simulations. Special attention is given to both the quantitative data reported over the last two decades on such interactions, and the only very recently appearing mid-term projections of E. huxleyi bloom dynamics across the world ocean. These blooms strongly affect the atmosphere and ocean carbon cycles. They reduce CO2 fluxes from by ~50% to ~150% as is documented for the North Atlantic, and on the global scale release particulate inorganic carbon as calcium calcite in the amounts assessed at 0.4 to 4.8 PgC/yr. At the same time, they are also sensitive to the atmospheric and oceanic state. This results in E. huxleyi blooms having an increased impact on the environment in response to ongoing global warming.