Honey has been used not only as a food source but also for medicinal purposes. Recent studies have indicated that honey exhibits antioxidant, hepatoprotective, hypolipidemic, hypoglycemic and anti‐obesity properties, as well as anticancer, anti‐atherosclerotic, hypotensive, neuroprotective and immunomodulatory activities. These health benefits of honey could be attributed to its wide range of nutritional components, including polysaccharides and polyphenols, which have been proven to possess various beneficial properties. It is notable that the composition of honey can also be affected by nectar, season, geography and storage condition. Moreover, the safety of honey requires caution to avoid any potential safety incidents. Therefore, this review aims to provide recent research regarding the chemical composition, biological activities and safety of honey, which might be attributed to comprehensive utilization of honey. © 2023 Society of Chemical Industry.