Lichens are complex symbiotic associations between fungi and algae which are important constituents of many ecosystems. The production of various unique extracellular secondary metabolites known as lichen substances is the result of this symbiosis. These compounds exist within the thalli and typically form crystals on the surface of the fungal hyphae. Thus far, more than 800 secondary metabolites of lichens have been discovered, most of them being exclusively present in lichens. In recent date, lichens have been taken up for many researches concerning the phytochemical and pharmaceutical applications. Lichens and their secondary metabolites have many pharmaceutical roles, primarily including antimicrobial, antioxidant, antiviral, anticancer, antigenotoxic, anti-inflammatory, analgesic and antipyretic activities. Hence, the present study was undertaken to explain the lichens as the important potential sources of bioactive secondary metabolites.