Background: Management of cognitive disorders like dementia and Alzheimer’s disease has been challenging since no potential drug is available with proved efficacy. Some nootropic drugs like piracetam, aniracetam and cholinesterase inhibitors such as Donepezil® have found to exhibit severe toxic effects in elderly. Objective: The present study was designed to investigate the reversal of memory deficits by ethanol extract of Mimusops elengi Linn. in mice. Methods: M. elengi [100 and 200 mg/kg] was administered orally for 8 successive days to both young and aged mice. Elevated plus maze and Passive avoidance paradigm were employed to assess short term and long term memory respectively. Light and dark box test, Open field test and Social interaction test were used to assess the possible anxiolytic potentials of M. Elengi. To delineate the possible mechanism through which M. elengi elicits the anti-amnesic effect, we investigated its influence on central cholinergic activity by estimating the whole brain acetylcholinesterase activity. Results: M. elengi [100 and 200 mg/kg, p.o.] significantly attenuated amnesic deficits induced by diazepam [1 mg/kg, i.p.], scopolamine [0.4 mg/kg, i.p.] and natural aging. M. elengi [100 and 200 mg/kg] decreased transfer latencies and increased step down latencies significantly in the aged mice. It also reversed amnesia induced by diazepam and scopolamine in young mice. M. elengi exhibited significant anxiolytic activity in mice. It also decreased whole brain acetyl cholinesterase activity significantly. Conclusion: M. elengi can be useful in restoring memory in the treatment of various types of dementia.