Sri Lanka has unique heritage of own medical system handed down from generation to another over a period of 3,000 years.  Native medical practitioners in different disciplines are inherited within a family tradition and their treatments are still effective and accepted by the Sri Lankan community.  Nagaraja Guliya is one of traditional preparations prescribed as internal or external medicaments by the traditional physicians in the southern province in Sri Lanka since ten decades for poisons of animal origin. The study has been focused to standardize the herbo mineral formula in respect of quality, safety and analyze the potential of Nagaraja Guliya. The formulation consists of the eight herbo mineral ingredients; Aconitum ferox, Zingiber officinale, Myristica fragrans, Syzygium aromaticum, Mercury, Arsenic trisulfide, Copper sulphate and Luffa cylindrica. Authentication of the ingredients was carried out at Bandaranayaka Memorial Ayurveda Research Institute, Nawinna, Sri Lanka. Data has been gathered from Sri Lankan traditional manuscripts, Ayurveda authentic texts and different scientific journals. The results revealed that the Nagaraja Guliya contains secondary plant metabolites like Alkaloids, Tannins, Saponin and Phenols. The pH of the formulation was found to be 5.28 and is in acceptable range for oral administration and external application. Further, heavy metal contents of Mercury and Arsenic in the preparation was not reached to the harmful level to the human body. In Ayurveda view point; pharmacodynamic properties of the formula showed that maximum number of ingredients consist of Katu Rasa (pungent taste) Laghu Guna (Light property), Ushna Veerya (Hot in potency) and Katu vipaka with properties of pacification of Kapha and Vata dosha. Kushtagna, Vedanastapana, Raktashodaka, Shotahara and Vishahara. Hence, future studies should be planned to evaluate the existing data on traditional use of Nagaraja Guliya, along with experimental and clinical trials.