Pterocarpus marsupium is an important therapeutic and medicinal plant belonging to family Fabaceae and commonly named as Indian Kino tree, Bijasal, Venga or Vijayasara. It is a huge deciduous plant and widely distributed in the Central, Western and Southern regions of India. Role of P. marsupium is found in Ayurveda, Homeopathic and Unani systems of medicine. It is a decent source of tannins and flavonoids hence, used as influential astringent, anodyne, cooling, regenerating agent and also used for the treatments of leprosy, leucoderma, toothache, fractures, diarrhea, passive hemorrhage, and dysentery, bruises and diabetes. It is also used to treat rheumatoid arthritis, gout, diabetic anemia, indigestion, asthma, cough, discoloration of hair, bronchitis, ophthalmic complications, elephantiasis and erysipelas. Researchers have been stated the presence of several phytoconstituents in P. marsupium and also their pharmacological activities. The current review aimed to define the phytochemical and pharmacological aspects of P. marsupium which will have been help in the researchers for further qualitative research.