This paper summarizes the state of soil health assessment and restoration systems incorporating Artificial Intelligence (AI) and Internet of Things (IoT) technologies. The sensor technologies used to collect real-time data, methods of transferring data, and artificial intelligence algorithms for soil classification and predictive modeling are presented in detail. We explore significant usages that leverage this potential for precision agriculture, including novel irrigation systems, advanced nutrient management and AI-enhanced decision support systems. They also refine best practices for monitoring soil health, embracing emerging technologies like remote sensing and eco-acoustics and outlining opportunities to revolutionize soil health assessment. A new soil health monitoring and restoration method is being proposed based on random forest machine learning models for predicting soil health with a 99% accuracy in soil health-wise classification. The paper concludes with examples of some of the exciting transformation possibilities presented by those technologies to address the global agricultural sustainability challenge. These developments will, therefore, be essential and may prove necessary for achieving long-term sustainability in agriculture.