Herbal drugs have been one of the primarily used drugs since olden times for the treatment of a range of diseases. In addition, the medicinal plants have played a vital role in world health as the herbal plants still make an important contribution to health care. Phyllanthus amarus, a world-renowned botanical, has been used since ages because of its rich medicinal values and ethnomedical importance. Phyllanthus amarus is a small, erect, annual herb which is a rich source of phytochemicals that are attributed to biologically active lignans, glycosides, flavonoids, alkaloids, ellagitannins and phenylpropanoids that are present in the leaf, stem and root of the plant. It is a little wonder that the plant is used for so many purposes in herbal medicine systems and in clinical research over the years. Numerous studies have reported that Phyllanthus amarus have anti-inflammatory, antidiabetic, antimicrobial, antihyperlipidemic, antioxidant and anticancer activities. Moreover, studies have demonstrated hepatoprotective, antifertility, antidiarrhoeal, antiallodynic, antioedematogenic, antispasmodial, chemoprotective, antihypercalciuric, antiviral, antispasmodic, antinociceptive and diuretic properties associated with Phyllanthus amarus. The present review article summarizes the potent pharmacological properties exhibited by the plant.