Laurus nobilis is native to the southern Mediterranean region. It is a small tree from the Lauraceae family. The leaves of L. nobilis are the most exploited part of the plant due not only to the high produced quantity but to the large benefits and extensive use in different fields including culinary, cosmetic, therapeutic, and pharmacologic. The various beneficial health properties attributed to bay leaves are related to the presence of various bioactive compounds. Chemically, they contain numerous essential elements, some vitamins, and many secondary metabolites such as essential oils (cineole, linalool, and eugenol), phenolic compounds, particularly phenolic acids (ferulic, protocatechuic, and caffeic acids, etc.) and flavonoids (such as catechin, kaempferol, apigenin, quercetin, and their derivatives), and alkaloids (noraporphins and aporphins). Laurel leaves are not only used to flavor dishes, but present several beneficial properties that justified their traditional use against numerous illnesses, particularly for rheumatism, indigestion, and diarrhea. Bay leaves are an essential component of several industrial applications including agrifoods, cosmetics, and pharmaceuticals. Due to the presence of cited chemical constituents in bay leaves, various biological and pharmacological properties have been reported such as antioxidant, antibacterial, fungicidal, antiviral, insecticidal, wound healing, antimutagen, anticonvulsant, analgesic, anti-inflammatory, and immunostimulatory activities. This review provides an overview of L. nobilis leaves, beginning with botanical aspects, including its preparation and composition, followed by a discussion about the most abundant bioactive compounds, and finally the traditional uses and therapeutic effects.