Among all cereals, oat is considered to be one of the goods consumed in functional grain, nutraceutical, and pharmaceutical components. The review article aims to explore plant profile, phytochemical constituents present in different parts, and potential therapeutic agent which prevents people from different diseases with their respective mechanism of action it also includes toxicity studies, dosage form, marketed formulation, and industrial application. The information on Avena sativa is collected from the different databases available in Science Direct, PubMed, Scopus, and Google Scholar to search for research papers for literature and data. Reviewed information suggests that the A. Sativa is a good source of a range of phytochemicals including lignans, saponin, anthocyanidins, and avenanthramides, which might be directly and/or indirectly linked with beneficial nutraceutical and/or pharmacological effect(s). The review states, that A. sativa is a promising candidate as a functional and/or non-functional food because of various phytoconstituents. The clinical report has described that the utilization of oats can provide several health benefits. However, systematic rational investigations for such indications and safety profiles are yet to be explored.