Spirulina, a polyphyletic group of algae, is known for its economically significant products and is widely used as a dietary supplement. It is rich in essential elements and compounds, including proteins, antioxidants, vitamins, and minerals, making it a valuable nutritional resource. <i>Spirulina platensis</i>, in particular, has been extensively studied for its nutritional richness and antioxidant properties. This article reviews Spirulina's biochemical composition from 2005 to 2023, using data from databases like Medline and PubMed. It focuses on keywords such as spirulina, habitat, species, pharmacological action, toxicities, and medicinal uses. Spirulina stands out for its exceptional protein content, amino acid composition, and unique status as a plant-based source of vitamin B12 and essential fatty acids. It also contains a comprehensive micronutrient profile, including easily absorbable minerals like iron, calcium, phosphorus, and magnesium. Spirulina has various health benefits, including anti-diabetic, cardio-protective, hepatoprotective, anti-viral, antioxidant, anti-inflammatory, and anti-cancer activities. The research on spirulina highlights its potential as a valuable dietary supplement with diverse health benefits. Its rich nutritional composition and pharmacological actions make it a promising candidate for managing various ailments and enhancing overall health. Further studies are warranted to explore its full therapeutic potential and mechanisms of action.