Triterpenoids are accessible in several terrestrial plants as well as marine organisms, including sponges, algae, fungi, and sea cucumbers are examples of marine creatures. So far, more than 20,000 natural triterpenoids have exhibited several varied bioactivities, including anticancer, antimalarial, anti‐HIV, inhibit HIF‐1 activation, antibacterial, chemopreventive, anti‐inflammatory, antioxidant, cardioprotective, antiviral, neuroprotective, hepatoprotective, insecticidal, antidiabetic, cytotoxic. Several plants are used in folklore medicine to treat numerous ailments, and the preparation or uses of traditional practices have been scientifically validated. Although various structural diversity has been observed in the triterpenoids, this review presents the sources and uses of those triterpenoids that showed significant biological activities which could be accessible and promoted to familiar people in the form of traditional medicine or for industrial, or pharmaceutical applications.