Endophytes are a rich source of secondary metabolites such as tannins, phenolics, and alkaloids. Endophytic fungi have potential as antioxidants, antimicrobials, anticancer agents, antidiabetic agents, hepatoprotectants, growth promoters, and immunomodulators. Recent studies have shown that endophytes are a valuable source of undiscovered biomolecules. As a result, endophytic isolates from medicinal plants can be used in the pharmaceutical, industrial, and agricultural sectors. Ocimum species, for example, have several medicinal properties and are used in traditional medicine. Fungal endophytes have a strong association with Ocimum plants. Previous research has shown that the fungal endophytes of Ocimum sanctum produce phytochemicals such as alkaloids, terpenoids, cardiac glycosides, flavonoids, terpenes, and volatile compounds. Additionally, fungal endophytes have a direct impact on the medicinal value of the genus Ocimum. This review aimed to discuss the pharmacological properties and diversity of endophytic fungi associated with the genus Ocimum.