Background: Pharmacovigilance is essential for ensuring the safety and efficacy of medications by monitoring and evaluating adverse drug reactions. A robust pharmacovigilance system supports early detection of drug-related risks and enables corrective actions, which is crucial for public health. Aim: This study aims to assess healthcare professionals' awareness, understanding, and perspectives regarding the pharmacovigilance system. Objectives: The objectives of this study were to (1) evaluate the current status of pharmacovigilance awareness within the healthcare system and (2) identify the factors necessary for effective functioning of the pharmacovigilance system. Methodology: This descriptive cross-sectional study was conducted over one month across various healthcare sectors in Kozhikode district, India. A structured questionnaire was distributed via Google Forms to a sample of 384 healthcare professionals, including doctors, pharmacists, nurses, and paramedical staff, selected based on a calculated sample size for a finite population. Inclusion criteria focused on actively practicing professionals across government and private sectors, while students and non-practicing staff were excluded. Data on demographics, knowledge, and attitudes toward pharmacovigilance were collected and analyzed through descriptive statistics. Results: The findings revealed that 63.53% of healthcare professionals were aware of the pharmacovigilance system, while 36.47% were unaware. This lack of awareness was identified as a potential barrier to the effective implementation of pharmacovigilance practices. Discussion: Limited awareness among healthcare professionals could compromise drug safety and the quality of healthcare delivery. This gap highlights the need for strategies to foster a more informed healthcare workforce. Conclusion: To strengthen pharmacovigilance, the study recommends increased training and education, simplified reporting mechanisms, expanded awareness campaigns, and a structured feedback system. These efforts could enhance medication safety and overall drug efficacy within healthcare systems.