Unani is a traditional system of medicine developed during the medieval period, which employs natural drugs composed of herbal, animal and mineral origin for curing human health. Fundamentally, it is based on the humoral theory postulated by Hippocrates, according to him the state of body health and disease are regulated by qualitative and quantitative equilibrium of four humours including blood, phlegm, yellow bile and black bile. Mesua ferrea L. belonging to Calophyllaceae family and is considered the genuine "Nagkeshara' as vernacular name. Mesua ferrea L. is commonly known as Nagkesar and Ceylon ironwood in English and Cobra's Saffron. The phytochemical screening confirms the presence of phenyl coumarins, xanthones, triterpenoids and fats as well as flavonoids as main bioactive constituents. It is possessed anti-oxidant activity, anti-inflammatory activity, analgesics activity, anti-venom activity, antispasmodic activity, hepatoprotective activity, antimicrobial activity, anthelmintic, expectorant and anti-allergic. Traditionally this plant is widely used for curing many ailments in India. This review highlights the general description, phytochemical studies, pharmacological activity as well as traditional uses of Mesua ferrea in current scenario.