It is widely used in the production of sodium dithiophosphate for applications as a flotation agent in the concentration of molybdenite minerals.

Phosphorus pentasulfide is a dual-use material, for the production of early insecticides such as Amiton and also for the manufacture of the related VX nerve agents.

Due to hydrolysis by atmospheric moisture, P4S10 evolves hydrogen sulfide H2S, thus P4S10 is associated with a rotten egg odour.

Aside from H2S, hydrolysis of P4S10 eventually gives phosphoric acid: Other mild nucleophiles react with P4S10, including alcohols and amines.

Reactions of this type require refluxing solvents such as benzene, dioxane, or acetonitrile with P4S10 dissociating into P2S5.