Corylifolinin, also known as isobavachalcone, is a flavonoid compound isolated from the seeds of Psoralea corylifolia L. With a rich array of biological activities, corylifolinin has emerged as a versatile therapeutic agent. It has demonstrated notable antioxidant, anti‐inflammatory, anti‐tumor, anti‐bacterial, and anti‐viral properties. Moreover, corylifolinin holds promise in enhancing liver function, cardiovascular health, and providing neuroprotection. Its applications span a range of medical conditions, including hepatitis, cardiovascular disease, tumors, and inflammation. Herein, this comprehensive review delves into various aspects of corylifolinin, encompassing its sources, biosynthetic pathways, biotransformation, physicochemical properties, absorption, assimilation, metabolism, and excretion. It explores the molecular mechanisms underlying its diverse bioactivities in cellular and animal models. Furthermore, we present insights into clinical trials, human studies, toxicological profiles, safety considerations, marketed products, and patents related to corylifolinin. This compilation aims to serve as a valuable reference for both the development and clinical application of corylifolinin‐based therapies.