There are approximately 50,000 to 70,000 medicinal plant species worldwide. Of these, only 6,000–7,000 species are widely utilized as medicinal plants in traditional medicine and the modern pharmaceutical field. One such plant is Carthamus tinctorius (safflower). Carthamus tinctorius has been used extensively for centuries in the traditional medicine of China, Iran, and other Eastern countries. It has been employed to improve blood circulation, alleviate pain, provide anti-inflammatory effects, and treat various diseases. Consequently, its ethnopharmacology, rooted in historical experience, continues to generate high scientific interest. Modern research has confirmed the pharmacological activities of safflower, including its antioxidant, anti-inflammatory, hepatoprotective, antidiabetic, antifibrotic, and cardioprotective properties. This positions it as a promising source for the development of new medicinal products in contemporary medicine. Therefore, integrating traditional ethnopharmacological knowledge with modern pharmacology and clinical research is of great relevance for creating new therapeutic agents from the safflower plant and enhancing the efficacy and safety of drugs.