The rare-earth-free ferrimagnet Mn4N has attractive features for spintronics applications, because it possesses a perpendicular magnetization, due to a relatively large magnetic anisotropy constant of ∼105 J m−3 and a small spontaneous magnetization of ∼100 kA m−1, and a large spin polarization (P = 0.8). More crucially, it is possible to reach the magnetic compensation at room temperature, by tuning its constituent elements in compounds such as Mn4−xNixN and Mn4−xCoxN. This is particularly interesting for spin-torque-based spintronics applications, because at the vicinity of the magnetization and/or angular momentum compensation points, the switching currents can be reduced significantly, thereby leading to lower switching energies and higher switching speed. In this review article, we emphasize the importance of epitaxial growth of Mn4N films by comparing the results obtained on two different substrates, MgO(001) and SrTiO3(001). We then present the achievement of ultrafast current-induced domain wall motion (CIDWM) in Mn4N microstrips, and study the magnetic compensations in Mn4−xNixN and Mn4−xCoxN at room temperature, proved by x-ray magnetic circular dichroism measurements. Finally, we offer future prospects for such Mn4N-based compensated