Medicinal plants are precious gifts of nature, which may serve as a source of food and medicine to humans. Phyllanthus emblica L has held a unique position in the Indian (Ayurvedic), Turkish, Unani, and Tibetan medicinal systems for centuries. Its nutritional, therapeutic and healing potentials have made it a valid research option for the development of novel drug formulations with few side effects. The presence of vitamin C, alkaloids, ellagitannins, gallic acid, emblicanin A and emblicanin B, flavonoids (especially rutin and quercetin), and a variety of biological molecules, makes P. emblica, a valued medicinal plant. the recent literature relevant to the nutritional, health, and therapeutic benefits of P. emblica, such as potential chemo-preventive, anti-diabetic, anti-microbial, anti-inflammatory, analgesic, anti-mutagenic, antioxidant, diuretic, aphrodisiac, UV protectant, and anti-aging activities. Its applications in memory enhancing, respiratory, skin and ophthalmic disorders, and detoxification including that of snake venom, are also highlighted. It additionally reviews retrospective studies on P. emblica at the molecular level, for disease management and control. P. emblica is an important medicinal plant with many benefits. It has been used for centuries and generations as a source of food because of its unique restorative and rejuvenating potential.