Oleanolic acid (OA) is a bioactive constituent and natural triterpenoid with a pentacyclic structure. OA possesses beneficial effects against diabetes and other metabolic disorder by undergoing a more complex and multifactorial pathway. It activates the insulin response, protects the capability and existence of pancreatic β-cells and also gives protection against diabetic difficulties. The molecular mechanism of antidiabetic activities of OA involve modulation of transduction mechanisms includes oxidative stress-induced hepatic insulin resistance, phosphorylation of extracellular signal-related kinase, protective effect on mitochondrial function, regulates NF-kappa B, suppresses polyol mechanism, formation of advanced glycation end products, activation of M3 muscarinic receptors, and activation of G proteincoupled bile acid receptor.. Thus, the utilization of effective drug or food material carrying OA might be an effective way to control diabetes. Till now, limited clinical studies have been performed to explore the use of OA in the management of diabetes mellitus. However, due to their potential therapeutic activities, OA deserves special attention. In this present review article, we have summarized the antidiabetic potential of OA reported mainly from the period of 2015-2020 with a notable emphasis on the molecular mechanisms. We have searched Google Scholar, medical databases, and websites using related keywords like OA, insulin, diabetes mellitus, herbal medicine, or a combination of them. To qualify for inclusion, the herbal plants should have tremendous antidiabetic activities, established with biomarkers with limited adverse effects.