Although it is called the century plant, it typically lives only 10 to 30 years. May reach a total height of up to 25–30 ft (8–9 m) tall.

Its common name derives from its semelparous nature of flowering only once at the end of its long life. The plant dies after flowering, but produces suckers or adventitious shoots from the base, which continue its growth.

If the flower stem is cut without flowering, a sweet liquid called aguamiel ("honey water") gathers in the heart of the plant. This may be fermented to produce the drink called pulque. The leaves also yield fibers, known as pita, which are suitable for making rope, matting, coarse cloth and are used for embroidery of leather in a technique known as piteado. Both pulque and maguey fiber were important to the economy of pre-Columbian Mexico.