Diabetes is a major health problem worldwide that hinders normal life. Diabetes is a leading cause of death with high prevalence across the globe. Many drugs are used for the management of type 2 diabetes, unfortunately with some side effects including abdominal pain, kidney, liver, heart complications, and most commonly life-threatening hypoglycemia. Furthermore, these medications mitigate hyperglycemia symptoms and do not address the root cause, which is lipid accumulation in the pancreas, liver, and muscles. Therefore, there is a need for a safe natural product that manages diabetes and reduces obesity with fewer side effects. Shilajit, which is an exudate from many rock layers of mountains, especially the Himalayas, is made up of plant and microbial metabolites, including a mixture of organic humus, humic acid, fulvic acid, and minerals. It was used for many ailments in old traditional medicine and in current human and animal studies, in which its safety and fewer side effects were affirmed. Shilajit has anti-diabetic properties that include anti-hyperglycemia, antiobesity, anti-oxidant, anti-inflammatory effects, increased metabolism, and important minerals. Anti-hyperglycemia of shilajit could be due to decreasing oxidative stress, decreasing inflammation, and increasing metabolism that leads to the burning of fat and decreasing obesity; all of these are implicated in insulin resistance and diabetes. Other uses of Shilajit include treatment of cancer, allergy, and increased immunity. More clinical studies are required to explore the mechanisms and benefits of Shilajit, as recent research is promising.