Hyphaene thebaica, also known as doum, is a wild plant growing in Egypt, Sudan, and other African countries. It is usually used to prepare nutritive diets, tasty beverages, and other food products. This review aimed to highlight the phytochemical composition of the doum plant using NMR, GC–MS, HPLC, and UPLC/Qtof/MS. The reported active constituents are also described, with flavonoids, phenolic acids, and saponins being the most dominant components. Extraction methods, both conventional and non-conventional, and their existing parameters were summarized. The in vitro and in vivo studies on the extracts and active constituents were also reported. We focused on different applications of doum in functional food products, animal feeding systems, and pharmaceutical applications. Doum is considered a promising dietary and therapeutic candidate to be applied on a wider scale. Proteomic analysis of doum and clinical assessment are still lacking and warrant further investigations in the future.