Yarsagumba (Ophiocordyceps sinensis (Berk.) Sung et al.) is a well-known entomogenous fungus native to alpine nival terrain of trans-Himalaya and Tibetan Plateau. The traditional use of O. sinensis in Ayurvedic medicine as well as in traditional Chinese medicine for range of human health requirements with well documented evidences are themselves testimony of its value. It is regarded as winter worm, summer grass due to its association with Thitarodes (Hepialus) larvae. The extremities of habitat condition and endurance of fungus to sustain adversaries by production of metabolites has led to unique profile of metabolites including nucleosides, proteins and nitrogenous compounds, polysaccharides, sterols, fatty acids and their derivatives, as well as some vitamins and inorganics. There are wide ranges of biological activities that have been reported from O. sinensis including anti-inflammatory, antioxidant, anti-tumor, anti-metastatic, immunomodulatory, antimicrobial, insecticidal, hypolipidaemic, hypoglycemic, antiageing, lipolytic, neuroprotective, renoprotective effects, etc. Although several components can be responsible for activity of compounds, understanding ultimate compounds which fit with biomolecular target is crucial to combat diseases and development of new class of effective drugs. In this review a concise evaluation of pharmacological activities of metabolites reported for O. sinensis are done to provide insight into its biologically active components.