Opuntia (prickly pear) is a genus of xerophyte belonging to the Cactaceae family, growing abundantly in the arid parts of the world. Owing to high nutritional value in terms of dietary fiber, polyunsaturated fatty acid, minerals, protein and an assortment of other phytochemicals, Opuntia fruits are gaining popularity. Validation of health benefits viz. antioxidant, anti-inflammatory, antidiuretic, hypocholesterolemic, antidiabetic, antiproliferation, immunostimulatory and antiulcerogenic activity have further consolidated their position in emerging nutraceutical sector. Though at infancy, the Opuntia fruit-based foods are garnering consumer approval and are expected to contribute significantly to functional food processing. This chapter explores the proven biological potentials and suggests future scopes.