The objective of the present study was to evaluate commercially important herbal medicinal plant products present in herbal markets of the province of Punjab, Pakistan. Herbal medicine is undoubtedly a reliable alternative approach to healthcare delivery in this metropolis because it is economical, accessible and efficacious. Ethnobotanical information was collected from approximately 300 informants including certified and uncertified herbalists. The sample size was determined by statistical formulation. The informative data was based on semi structured interviews, group discussions, questionnaires and field visits. The data were analyzed by different quantitative indices, such as informant consent factor (ICF) and frequency of citation (FC). Availability of almost 96 plants belonging to 51 families was reported in commercial markets. The most frequently traded plant species were from the family Fabaceae (11 species). Herbs (30.20 %) are sold more frequently than shrubs and trees. Leaves (22.11 %) and seeds (17.58 %) are being commonly sold in herbal markets as traditional medicines. The mode of administration for the majority of medicinal plants was through extraction (25.57 %) and paste. Almost 12 species were found with different modes of administration as mentioned previously in the literature. Ten species were uncovered for new medicinal uses. Generally, herbal medicines were acquired from dried plant material, and their price per kg of plant species varied from Rs 20/- to 2000/- PKR. The species reported with the highest price was Buchanania lanzan Spreng, and the species with the lowest price was Prosopis juliflora (Sw.) DC). Papar Mandi (Lahore) is the largest trade center of herbal medicine in Punjab. Different symptoms of diseases and their traditional diagnostic methods were also explored.