Nilofar (Nymphaea alba Linn) is commonly known as the white-water lily. It is a hydrophyte with enormous medicinal properties, renowned for its alluring white flowers. It is distributed worldwide in ponds, lakes, and marshy areas. Its various parts have been extensively utilized in Unani medicine globally, particularly in the Indian subcontinent, to prevent and treat a variety of ailments. Numerous research findings have documented its therapeutic effects, including anti-inflammatory, anti-hepatitis C, anti-diarrheal, hepatoprotective, antibacterial, anticarcinogenic, antiurolithiatic, uterotonic, anxiolytic, antidepressant, CNS depressant, anticonvulsant, antihyperlipidemic, and antioxidant activities. In Unani medicine, Nilofar is used to treat various illnesses such as palpitations, diarrhea, hepatotoxicity, inflammation, migraines, anxiety, depression, and convulsions. Nilofar contains a variety of chemical constituents, including alkaloids, tannins, flavonoids, phenolic content, glycosides, aglycons, phenolic acids, cardiac glycoside nymphalin, and others. This review explores the therapeutic potential of Nilofar, shedding light on its pharmacological properties, traditional uses, and emerging research. By combining traditional knowledge with the latest scientific findings, this review aims to encourage further research and facilitate its integration into mainstream healthcare practices.