This review provides an overview of the recent advances in the synthesis of diverse heterocyclic compounds using thiosemicarbazide as a key building block via multicomponent reactions. Thiosemicarbazide is a versatile reagent that has gained significant attention in organic synthesis due to its ability to participate in diverse multicomponent reactions for the efficient and sustainable construction and assembly of novel bioactive molecules and pharmaceuticals. This review discusses the potential applications and future directions in this rapidly evolving area of research. It provides valuable insights into the innovative approaches for the synthesis of heterocycles using thiosemicarbazide, showcasing its significance in modern organic chemistry research. In summary, this review provides an overview of the current state of the art, highlighting the use of thiosemicarbazide in the synthesis of novel heterocyclic compounds reported between 2015 and early 2024.