Recent pharmacological research on Tracyspermum ammi has unveiled its diverse medicinal properties, bolstering its status as a notable herbaceous plant. Cultivated extensively in regions like Egypt, Iran, Afghanistan, Pakistan, and India, T. ammi has drawn attention due to its rich essential oil content, prominently thymol. Commonly used in food processing, such as in pickles, this plant exhibits a wide array of pharmacological effects, from diuretic and antibacterial properties to potential as an antitussive, antiplatelet, antihypertensive, bronchodilator, and antihyperlipidemic agent. While the medicinal potential of T. ammi is acknowledged, challenges persist in optimizing its efficacy. The preclinical and clinical trials of T. ammi have been performed and data are compiled to assess its efficacy in humans. Novel drug delivery systems, including nanoparticles, microemulsions, niosomes, and liposomes, among others, offer a means to overcome the constraints associated with conventional formulations. In conclusion, the comprehensive overview presented here highlights the morphological characteristics, food processing, chemical constituents, pharmacological significance, preclinical and clinical trials along with traditional use and novel dosage forms of T. ammi which underscores the need for modernization in drug delivery systems to maximize its therapeutic potential thereby advancing the addition of herbal medicines into contemporary healthcare practices.