Phyllanthus emblica L. (syn. Emblica officinalis) is commonly known as Indian gooseberry. In Ayurveda, P. emblica has been extensively used, both as edible (tonic) plants and for its therapeutic potentials. P. emblica is highly nutritious and is reported as an important dietary source of vitamin C, minerals and amino acids. All parts of the plant are used for medicinal purposes, especially the fruit, which has been used in Ayurveda as a potent Rasayana (rejuvenator). P. emblica contains phytochemicals including fixed oils, phosphatides, essential oils, tannins, minerals, vitamins, amino acids, fatty acids, glycosides, etc. Various pharmaceutical potential of P. emblica has been reported previously including antimicrobial, antioxidant, anti-inflammatory, analgesic and antipyretic, adaptogenic, hepatoprotective, antitumor and antiulcerogenic activities either in combined formulation or P. emblica alone. The various other Ayurvedic potentials of P. emblica are yet to be proven scientifically in order to explore its broad spectrum of therapeutic effects. On this regards we, in this review, tried to explore the complete information of P. emblica including its pharmacognosy, phytochemistry and pharmacology.