Trimetazidine (TMZ) is an effective and well‐tolerated antianginal drug that possesses protective properties against ischemia‐induced heart injury. Growing interest in metabolic modulation in recent years urged an up‐to‐date review of the literature on TMZ. This review consists of two major sections: (1) comprehensive and critical information about the pharmacological effects, mechanism of action, pharmacokinetics, side effects, and current usage of TMZ, and (2) developments in analytical techniques for the determination of the drug in raw material, pharmaceutical dosage forms, and biological samples.