Over the course of three decades, benzimidazole as well as benzothiazole and its derivatives have been extensively investigated in oligo‐nucleotide therapy for their properties. These derivatives serve as valuable building blocks for creating pharmaceutical and biologically active molecules. With applications ranging across various therapeutic domains, including antiulcer, anticancer, and anthelmintic treatments, substituted benzimidazole/ benzothiazole derivatives have proven their versatility. This review provides a systematic and comprehensive overview of the latest advancements in benzimidazole/ benzothiazole‐based compounds within medicinal chemistry. These compounds exhibit diverse pharmacological activities such as anticancer, antibacterial, antifungal, anti‐inflammatory, analgesic, anti‐HIV, antioxidant, anticonvulsant, antitubercular, antidiabetic, antileishmanial, antihistaminic, antimalarial properties, among others. By presenting insights into the substitution patterns around the benzimidazole/benzothiazole nucleus, this review aims to assist medicinal chemists in developing structure–activity relationships (SAR) for benzimidazole/benzothiazole‐based drugs and compounds, thereby aiding in the advancement of medicinal research.