Dihydrocaffeic acid (DHCA) is a phenolic acid bearing a catechol ring and three-carbon side chain. Despite its being found in minor amounts in numerous plants and fungi of different origins, it has attracted the interest of various research groups in many fields of science, from food to biomedical applications. The review article presented herein aims to show a wider audience the health benefits and therapeutic, industrial, and nutritional potential of dihydrocaffeic acid, by sheddinglight on its occurrence, biosynthesis, bioavailability, and metabolism. The scientific literature describes at least 70 different derivatives of dihydrocaffeic acid, both those occurring naturally and those obtained via chemical and enzymatic methods. Among the most frequently used enzymes that were applied for the modification of the parent DHCA structure, there are lipases that allow for obtaining esters and phenolidips, tyrosinases used for the formation of the catechol ring, and laccases to functionalize this phenolic acid. In many studies, both in vitro and in vivo, the protective effect of DHCA and its derivatives on cells subjected to oxidative stress and inflammation were acknowledged.