The use of plants and plant products as medicinal plants based on their therapeutic potential is well recognized and has been used for the treatment of various diseases and ailments since ancient times. Cordia macleodii, commonly known as Dahiman or Dahipalas or Shikari, a plant belonging to the family Boraginaceae, is one of the rare medicinal plants reported to possess potential therapeutic activities such as anti-inflammatory, antimicrobial, analgesic, hepatoprotective, wound healing, antihypertensive and antioxidant. The presence of various bioactive compounds like terpenoids, flavanoids, glycosides, phenols, tannins, saponins, steroids, volatile oils, amino acids, alkaloids, and resins make C.macleodii a valuable potent herbal medicinal plant. Though the plant has potential health benefits and medicinal value, there is only limited literature available about the plant, so there is a need for an extensive survey and exploration of knowledge about C.macleodii. The present review summarizes geographical sources, phytochemical constituents, potential biological activity and application, ethnobotanical and medicinal uses, and toxicity. The review finally concluded with a discussion of future prospects.