Propolis is a resinous substance composed of a mixture of different plant parts and molecules secreted by bees. Chemically, it is defined as a complex matrix containing biologically active molecules with antibacterial, antifungal, antiviral, antiparasitic, hepatoprotective, and immunomodulatory activities. It is widely employed in cosmetic formulations and pharmaceutical products and is one of the most widely used natural products. However, the effects and strength of these biological activities depend on the chemical profile and composition of each propolis type. This composition is associated with the diversity of local flora, the place and period of collection, and the genetics of the bees. In this context, the objective of this review was to investigate the biological, chemical, and microbiological properties of propolis. A technological prospection was also performed on patents for products designed to be used in animal health. Our investigation shows that the literature contains diverse studies dedicated to comparing and describing the composition and therapeutic properties of propolis. These studies demonstrate the potential biological use of propolis in veterinary medicine, showing the applications of propolis extracts in different formulations. However, there are a low number of propolis‐based veterinary products with a registered patent. Thus, the development of products based on propolis is a promising market to be exploited. © 2019 Society of Chemical Industry