Prostaglandin endoperoxide synthases, usually known as cyclooxygenases (cyclooxygenase-1 and cyclooxygenase-2), catalyze a key step in the formation of biologically effective prostaglandins. In recent times, a cyclooxygenase-1 variant protein, called cyclooxygenase-3 used to be found and characterized. COX-3 is studied recent along with significant margin for the formation of antiinflammatory, analgesic and anticancer agents. In a pharmaceutical area, various drugs targeted on this enzyme are Acetaminophen, Dipyrone, Antipyrine, Dimethylaminopyrene, Diclofenac, Aspirin, Ibuprofen, Thalidomide and Caffeine. It is a new era for COX family that contains numerous significant applications that's the reason it is the center of attraction for researchers. Currently, the role of COX-3 in human is unclear, but scientists continue to do work in this area. The objectives of this review article are to gather all newest data literature related to developments in the structural and biochemical features of the cyclooxygenase-3 isoenzyme along with discussing its application for the various pharmacological effects of drugs. INTRODUCTION: In human history, cyclooxygenase (COX) reported the most common therapeutic drug target for the various drugs. COX-1 and COX-2 are the most common in research but now a day's researcher's focus on new cyclooxygenase that is cyclooxygenase-3 (COX-3). Cyclooxygenase-3, (COX-3) is commonly known as a splice variant of COX-1 (COX-1b or COX-1v). Chandrasekharan et al., in 2002 isolated COX-3 from the heart and the cerebral cortices of dog. A huge number of controversies estimated in opposition to the cyclooxygenase-3 hypothesis.