Sphaeranthus indicus Linn. (SI) (Asteraceae) is widely used in Ayurvedic system of medicine to treat vitiated conditions of epilepsy, mental illness, hemicrania, jaundice, hepatopathy, diabetes, leprosy, fever, pectoralgia, cough, gastropathy, hernia, hemorrhoids, helminthiasis, dyspepsia and skin diseases. There are reports providing scientific evidences for hypotensive, anxiolytic, neuroleptic, hypolipidemic, immunomodulatory, anti-inflammatory, bronchodialatory, antihyperglycemic, hepatoprotective, anti-malarial, antioxidant, anti-microbial activities of this plant. A wide range of phytochemical constituents have been isolated from this plant including sesquiterpene lactones, eudesmenolides, flavanoids and essential oil. This comprehensive review explores the reported accountable investigations on the morphological studies, phytochemical studies, ethnobotanical uses and pharmacological activities of Sphaeranthus indicus. Therefore it is very significant to give the frontline position to this plant in the list of the most potent Indian traditional plant.