Though now its cultivation is confined only to Bihar along with adjacent states i.e. Assam, Orissa and West Bengal. 5 Optimum atmospheric conditions to grow is tropical and subtropical climate, temperature ranging from 20 o C-35 o C, relative humidity between 50%-90% and rainfall between 100 cm-250 cm. 6 The Euryale ferox is a perineal plant, rooted in the soil with leaves that are broad, round and blade-shaped thus remaining afloat on the surface of pond water. The leaf lamina and vascular bundles have many sharp prickles whereas the rhizomes lie deep in the bottom of the pond with the help of dense fleshy roots. At a time, the plant bears 15-20 spongy fruits, ABSTRACT Introduction: One of the relished dry fruits known by the names of Makhana, Phool Makhana, Gorgon Nut and Fox Nut in the Indian continent, Euryale ferox Salisb. (Nymphaeaceae) is the only plant that belongs to Euryale genus. It is found in abundance in Mithila, Darbhanga and Madhubani region of Bihar state. Since ages, in Ayurveda and Chinese practices, it has been used for the treatment of the renal disorder, chronic diarrhoea, excessive leucorrhea and hepatic dysfunctioning. Its bio-active compounds act as antioxidant, antimicrobial, antiischaemic, anti-diabetic, immunomodulatory, anti-melanogenic, anti-cytotoxic. Methods: The information has been collected from various scientific journals, reviews, books, reports and patent databases. Results: This review summarizes the isolated bioactive compounds in different extracts, patented compounds/formulations with pharmacological activities, present in different parts of Euryale ferox Salisb. Hence, it has been used as a remedy for numerous ailments since long and also proves itself as a panacea for humanity.