AbstractEspecially in tropical and subtropical countries, tuber and root crops have developed into important food crops. Due to its use in food preparation, aesthetics, and medicine, taro (Colocasia esculenta) is ranked as the fifth most important root crop. In comparison, it stores a considerable quantity of starch – even more than potatoes, sweet potatoes, cassava, and other similar crops. Colocasia leaves are lower in calories and high in dietary fiber minerals and proteins. The corms of Colocasia antiquorum contain anthocyanins such as pelargonidin‐3‐glucoside, cyanidin‐3‐glucoside, and cyanidin‐3‐chemnoside, which are reported to possess antifungal and antioxidative characteristics. The underground corms of taro (Colocasia esculenta), which contain 70%–80% starch, are the primary reason for its cultivation. Taro is a highly digestible root vegetable with a high content of mucilaginous gums and trivial starchy granules. It is used to make a variety of dishes. This review article highlights the functional properties, phytochemical profile, encapsulating properties, and various industrial applications. Its health advantages and dietary uses were also addressed.