Nutraceuticals are the herbal products which are helpful in maintaining the ideal nutritional needs of body and are gaining abundant importance in treatment of many forms of diseases. These are now recognized globally throughout the world and much of emphasis is given on the research of these agents in exploring their hidden benefits. Many researchers have proved their selective benefits in the treatment of harmful diseases like osteoporosis, obesity, cardiovascular diseases, cancer and many more. The review which is presented here is an effort to enlist the importance of these agents, to classify the different types of nutraceuticals and their role in prevention of diseases.