Sensors on (or attached to) mobile phones can enable attractive sensing applications in different domains such as environmental monitoring, social networking, healthcare, etc. We introduce a new concept, Sensing-as-a-Service (S2aaS), i.e., providing sensing services using mobile phones via a cloud computing system. An S2aaS cloud should meet the following requirements: 1) It must be able to support various mobile phone sensing applications on different smartphone platforms. 2) It must be energy-efficient. 3) It must have effective incentive mechanisms that can be used to attract mobile users to participate in sensing activities. In this paper, we identify unique challenges of designing and implementing an S2aaS cloud, review existing systems and methods, present viable solutions, and point out future research directions.