The tallow or butter tree (Pentadesma butyracea Sabine) is a ligneous forest species of multipurpose use largely distributed in Sub‐Sahara Africa. Owing to the biological properties of different parts of the tree and physicochemical properties, as well as the numerous benefits of its fruits, research on P. butyracea products, especially kernels and butter, has now gained more interest. Thus, the scientific literature revealed that Pentadesma butter is a more promising product with good physical and technological characteristics. It is traditionally preferred in households for food, medicine, and cosmetic use. Apart from the fruits, all other parts of the butter tree are used by local communities in folk medicine. The existing studies indicated that P. butyracea contains valuable health‐promoting compounds such as phenolic compounds, vitamins, minerals, and essential fatty acids. P. butyracea and derived products have antioxidant, antimicrobial, anti‐inflammatory, antiplasmodial, antitumor, estrogenic, anti‐androgenic, and cholesterol‐regulative effects. Since studies on the biological properties of the tree parts, nutritional composition, and physicochemical properties of food products from the tree have been very limited, this review attempts to summarize some results from recent investigations. Our intention in the present review was to give an overview of the biological activities of plants and an account of the potential properties of Pentadesma products (pulp, kernels, and butter) and outline the way for future relevant research to improve their state of knowledge.