Heterocyclic analogues and their derivatives have attracted strong interest in medicinal chemistry due to their biological and pharmacological properties. s-carboline also known as nor-harmane is a nitrogen containing heterocyclic compound. It belongs to the group of indole alkaloids and consists of pyridine ring that is fused to an indole skeleton. These tricyclic nitrogen heterocyclics are formed in plants and animals as Maillard reaction products between amino acids and reducing sugars or aldehydes. These compounds have special significance in the field of Medicinal chemistry due to their remarkable pharmacological potentialities and their derivatives have attracted a great deal of interest due to their wide range of biological activities such as antimicrobial, antitumor, cytotoxic, antiplasmodial, antioxidant, antimutagenic, antigenotoxic and hallucinogenic properties. It acts on gamma-aminobutyric acid type A and monoamine oxidase A or B receptor, enhances insulin sensitivity and also produces vasorelaxant effect. Harmine prevents bone loss by suppressing osteoclastogenesis. This review is mainly an attempt to present the research work reported in the recent scientific literature focusing on different synthetic methods and pharmacological activities of betacarboline derivatives which may contribute in future to synthesize various analogs and to develop new pharmacologically less toxic medicines.