Diosgenin (DG) is a saponin glycoside and an active constituent generally present in medicinal plants like Rhizoma polgonita, Trigonella foenum, Dioscorea villosa and Dioscorea rhizome. It is also the starting material for the biosynthesis of steroidal hormones. DG has also been reported as a multipurpose drug aiding in the treatment of various cardiovascular, neurological diseases as well as as malignancies, osteoporosis, diabetes, and atherosclerosis. The underlying mechanisms of DG contributing towards potential therapeutic ability is to suppress the expression of oncogenic genes, preventing the formation of free radicals and thereby resulting in neuroprotection etc. However, the use of DG is restricted due to its limited pharmacokinetic properties such as poor aqueous solubility, poor bioavailability, and quicker biotransformation into its metabolites. Hence, in this study we have briefed the current therapeutic approaches of DG and its derivatives alongside to its medicinal chemistry and its physicochemical, pharmacological & toxicological properties.