Background. The cases of diabetes increase day by day due to unhealthy lifestyle, food habit, and less food intake. Novel drugs for the treatment of diabetes are urgently needed. Most researchers are looking for alternative drugs (plant-based drugs) for the treatment of diabetes. Objective. The current experiment was designed to examine the hepatic and renal beneficial effect of Moringa oleifera Lam. (MO) extract in the streptozotocin (STZ)-induced diabetes. Methods. Antidiabetic potential of the MO extract was estimated in terms of blood glucose levels, plasma insulin, hexokinase, and glucose-6-phosphate. Antihyperlipidemic effects of MO extract were evaluated through the estimation of low-density lipoprotein (LDL) cholesterol, total cholesterol (TC), triglyceride (TG), very LDL (VLDL) cholesterol, and high-density lipoprotein (HDL) level whereas the antioxidant effects were evaluated through estimation of catalase (CAT), superoxide dismutase (SOD), malondialdehyde (MDA), and glutathione peroxidase (GPx) levels in diabetic rats. Results. Dose-dependent treatment using MO extract significantly increased the body weight, hexokinase, plasma insulin, HDL, SOD, CAT, and GPx levels (P < 0.001) and significantly decreased the levels of fasting blood glucose, TC, TGs, LDL, VLDL, MDA, fructose-1,6-bisphosphate, glucose-6-phosphate, and glycated hemoglobin in STZ-induced diabetic rats (P < 0.001). Conclusion. MO can be used as a therapeutic agent in the management of elevated blood glucose levels through the alterations in the blood glucose level, plasma level of insulin, and various biochemical parameters.