Mozambique possesses great biological diversity, with approximately 5500 plant species. Around 90% of its population uses natural resources for food and traditional medicine, being miombo forests serving as key providers for rural communities. The trade of medicinal plants also constitutes a significant economic activity for both rural and urban households. This study aims to review ethnobotanical and ethnopharmacological studies on medicinal plants in Mozambique and explore their agricultural and conservation potential. Articles published between 2010 and 2024 were included and identified 472 medicinal plant species, 400 of which were classified to species or genus level, spanning 277 genera and 93 botanical families. The most cited families include Leguminosae (61 species), Euphorbiaceae (20), and Combretaceae (17). Notable species are Momordica balsamina, Sclerocarya birrea, Annona senegalensis, and Cassia abbreviata. Sixteen in vitro studies explored medicinal plants’ antibacterial, antimycobacterial, antimicrobial, anticancer, and antimalarial properties. Prominent results were shown by Maerua edulis (tuberculosis), Tabernaemontana elegans (malaria), and Momordica balsamina (cancer). This work underscores the critical role of natural resources in Mozambique’s primary healthcare system and highlights their agricultural and economic potential. As the first comprehensive compilation of commonly used medicinal plants in the country, it calls for sustainable cultivation practices and further research to enhance their use and benefits.