Plant-based drug discovery has drawn the attention of researchers, especially the one used as traditional medicines. Centellaasiatica is traditional Ayurveda medicine widely used in India and across Asia for treating a variety of diseases. The aerial parts and roots are used for medicinal purpose, and its chemical constituents have wide therapeutic applications in areas of antimicrobial, anti-inflammatory, anticancer, neuroprotective, antioxidant, and wound healing activities. Many of its uses have been proven scientifically, and bioactive ingredients have been validated. In this review, we have done a critical evaluation of available literature looking for the pharmacological importance of C. asiatica. Further studies will be helpful to discover more bioactive compounds their exact mode of actions.