Health and nutrition values force the lifestyle to embrace functional food which accommodates health-promoting nutrients. Root vegetables are an excellent source of health-promoting phytoconstituents, including phenolic acids, flavonoids, essential oils, proteins, and bioactive pigments. These bioactive compounds impart broad-spectrum pharmacological activities, including anti-hepatotoxicity, anti-hyperlipidemia, anti-inflammatory, anti-hypertension, anti-depressant, and anti-hypoglycemia. In this context, quantification via a compatible extraction technique is essential. However, these bioactive compounds are sensitive to heat processing, growth conditions, pre-extraction treatments, and extraction techniques. The recovery of bioactive compounds and their health benefits can be further enhanced by suitable processing, storage, and proper supplementation. The present review aims to comprehensively discuss the bioactive compounds of root vegetables along with factors influencing these compounds and the involvement of root vegetables in oxidative stress reduction, as reported in the literature (2001–2022).