Alzheimer's disease is an incurable neurodegenerative disease which represents the most common form of dementia. Cognition impairment and memory loss are mostly caused by reduced levels of the neurotransmitter acetylcholine. Therefore, current drug therapies are based on the cholinergic hypothesis. However, β‐amyloid hypothesis is getting more important in last years. For many years, one of the basic drugs for the treatment of Alzheimer's disease was tacrine, acetylcholinesterase inhibitor. Unfortunately, it was withdrawn from the market due to its side effects. To diminish side effects, research has focused on obtaining multi‐target‐directed ligands, which target numerous disease pathways simultaneously, including those of Alzheimer's disease. The comprehensive review is focused on the outcomes of the studies of phyto‐tacrine hybrids. Hybrids can inhibit cholinesterase and β‐amyloid aggregation. Additionally, phyto‐hybrids have neuroprotective, anti‐inflammatory, hepatoprotective and metal chelating properties. Further research is necessary for the development of hybrids to find a proper therapy for Alzheimer's disease.