SummaryModernisation has significantly altered lifestyles, particularly eating habits, contributing to the increase of chronic diseases, with diabetes mellitus being a predominant metabolic disorder. Medicinal herbs such as Costus pictus (C. pictus), commonly known as the Insulin plant, offer a promising approach to managing these conditions. It is a perennial plant from the Costaceae family rich in proteins, fibres, minerals (K, Ca, Cr, Fe, Mn, Cu, Zn), and bioactive compounds. This review highlighted the plant's potential in mitigating chronic diseases and metabolic disorders due to its diverse bioactivities, including hepatoprotective, anti‐inflammatory, anticancer, antidiabetic, and antioxidant properties. These benefits are primarily attributed to its phytochemicals, mainly flavonoids and phenolic compounds. The antidiabetic mechanism involves suppressing metabolic enzymes essential for carbohydrate metabolism, while its antioxidant activity helps reduce excessive reactive oxygen species (ROS) levels implicated in various diseases. Furthermore, C. pictus can be incorporated into functional foods such as bakery and confectionery products, functional drinks, and edible coatings. We discussed the dietary factors, bioactivities, and underlying mechanisms associated with Costus pictus D., emphasising its applicability in functional food formulations. The synthesis of current research highlights the plant's role in modulating glucose metabolism, enhancing antioxidant defences, and its potential in mitigating diseases such as diabetes. By delving into the synergies between its dietary factors and bioactivities, this review aims to elucidate the multifaceted benefits of Costus pictus D., thereby fostering its integration into sustainable agricultural practises and contributing to public health nutrition.