Baccharoides anthelmintica (L.) Moench is a popular medicinal plant with a long history of use in several traditional remedies to cure a variety of diseases including; its effect on the central nervous system, gastrointestinal tract, metabolism, kidneys, gynecology, skin diseases, and general health. The present review aims to provide the latest, organized information on toxicological, pharmacological, phytochemical, and ethnomedicinal applications of Baccharoides anthelmintica. Several well‐known searchable websites like; Web of Science, Google Scholar, Scopus‐Elsevier, Taylor & Francis, Springer, and DOAJ, were used to empirically investigate the knowledge of this useful medicinal plant. Based on the previous studies, the pharmacological action of B. anthelmintica is due to various secondary metabolites including alkaloids, terpenoids, lignans, steroids, and other phytoconstituents. The focus of the present review is on the pharmacological importance, including antimicrobial, antiparasitic, antidiabetic, anticancer, anti‐HIV, antiosteoporotic action, antitoxic action, skin disorder, immunomodulatory activity, systemic infection, and treatment of neurodegenerative diseases. The review concluded that B. anthelmintica has several pharmacological activities, and hence, may be a good source for developing a lead molecule for the development of a new drug. More study is required to determine the pharmacokinetics, mechanism of action, long‐term toxicology testing, safe dosage, and possible interactions with other herbs.