AbstractLigaria cuneifolia(Ruiz & Pav.) Tiegh (Loranthaceae) andPhoradendron liga(Gillies ex Hook. & Arn.) Eichler (Santalaceae) are regarded as Argentine mistletoes based on their similarities with the European counterpart,Viscum albumL. (Santalaceae). These two species are the most used medicinal plants to treat high blood pressure in the Argentinian population. To provide scientific grounds to their traditional use and therapeutic potential, they were selected as herbal drug candidates. The main findings would support the anti‐hypertensive action, the anticholesterolemic and antioxidant features ofL. cuneifolia, and immunomodulatory properties for both species. Quercetin‐O‐glycosides, galloyl glycosides, and proanthocyanidins are present inL. cuneifoliawhileP. ligashows C‐glycosyl flavones and 3‐deoxyproanthocyanidins. This review summarizes the phytochemical characterization, medicinal properties and reveals promising results warranting future efforts for further investigation.