Harpalyce brasiliana Benth, known as snakeroot, is one of the most popular herbal medicines against snakebite in South America. A hydroalcoholic solution is traditionally prepared from the roots of H. brasiliana. In the last two decades, understanding the pharmacological properties and the possible medicinal applications of H. brasiliana has increased considerably. H. brasiliana has antivenom activity and anticarcinogenic, antimicrobial and antioxidant properties. Various in vitro and in vivo studies have shown H. brasiliana's diverse biological properties and its potential for disease treatment. The different biological effects of this plant may be attributable to the presence of secondary active metabolites such as pterocarpans, triterpenoids, chalcones and flavonoids. This overview presents different aspects of this plant and the pharmacological properties of its compounds through a review of the available literature. The results support the use of H. brasiliana in the treatment of snakebite and its potential for treatment of other diseases in folk medicine.