Ferula asafoetida Linn. is a chief source of Asafoetida, a sturdy, obstinate and sulfurous odor, and oleo-gumresin of medicinal and nutritional significance. Asafoetida is used in food as a flavoring agent and also has been used as traditional medicine for many diseases in the world. Recent studies have shown numerous promising activities mostly muscle relaxant, memory enhancing, digestive enzyme, antioxidant, antispasmodic, hypotensive, hepatoprotective, antiviral, antifungal, anticancer, anxiolytics, and anthelmintic activities. It is used in the prevention and treatment of several problems such as unwanted abortion, unusual pain, sterility, and mainly ailment for women such as difficult and excessive menstruation and leukorrhea. Moreover, it is used for stomach pressure, flatulence, low acid levels in the stomach, and loose stools. This review deals with study of various phytoconstituents, pharmacological, and therapeutic effects of Asafoetida.