Gallic acid and its congeners are commonly present in variety of fruits and number of plants. In addition to its natural origin, large number of synthesized gallic acid derivatives are also available. It has a wide range of industrial uses including its role as standard for determing phenolic content of analytes in pharmaceutical industry, as source material for ink, paints and colour developer. Studies on gallic acid and its derivatives have exhibited its potential for combating oxidative damages, cancer manifestations and microbial infestations. Further, gallic acid extracted from different natural sources has been implicated to possess potency to ameliorate neurodegenerative disorders and aging. Furthermore, large number of reseach explorations are available to show its ability for the treatment of diabetes, ischemic heart diseases, ulcer and other ailments. In this review, an attempt is made to compile the scattered information on gallic acid and its derivatives for their pharmacological role, isolation and extraction procedures as well as quantification. This might help our research fraternity to explore gallic acid in their future research as a lead compound for new drug development.