Flavonoids and other phenolic constituents are a large group of plant metabolites that have long attracted interest from researchers worldwide due to their functions in plant physiology, as well as their huge number of benefits for human health and well-being. This review attempts to reveal a promising view of the major physiological roles of flavonoids and other phenolic phytochemical molecules, e.g., protection agents against UV damage, pathogen defense agents, detoxifying agents, and agents promoting pollen fertility and successful pollination. Besides, the value of both flavonoids and other phenolic phytochemicals for plant species delimitation was also emphasized for the first time with the determination of their major physiological roles. Furthermore, their medical benefits for mankind were also highlighted in this current work.