Portulaca oleracea (puslane) belonging to family Portulacaceae is often vilified as an agricultural weed. However, foraging and impetus on food innovation has highlighted its nutritional aspects. It has been recognized as an excellent source of bioactive phytochemicals, ranging from alkaloids, ω-3 fatty acids, coumarins, flavonoids, cardiac glycosides, anthraquinone, protein, α-linolenic acid and β-carotene, mono terpene glycoside, N-trans-feruloyltyramine to vitamin C. So far, antioxidant, anti-inflammatory, antiatherogenic, antidiabetic, anticancer, hepatoprotective, gynaecological, neuroprotective and antiviral properties have been validated. This chapter is compiled with recently published papers of high relevance, with emphasis on mechanisms of action. Given due research attention, it can be developed into an wholesome food source and effective CAM for many ailments afflicting mankind.