Fungal endophytes can be considered as a new source of biological control and plant growth promoting agents. Moreover, the huge repertoire of extracellular enzymes produced by them has great biotechnological importance in medicine, agriculture and industry. The current study aimed at the assessment of plant growth promotion and biocontrol potential of endophytic fungal isolates associated with Dioscorea bulbifera L. for efficiently improved plant growth and protection of hosts from various infections. Overall, the experimental work revealed significant results where, 81% of the endophytic fungal isolates exhibited biocontrol potential against atleast one or more bacterial pathogens. The endophytic fungal isolate ARW2 (Clonostachys pseudochroleucha) was found to be highly effective against Gram positive bacteria whereas N4 (Parathyridaria percutanea) and H1B (Curvularia lunata) were effective against Gram negative bacteria. 52% of the endophytic fungal isolates were found to possess strong inhibition potential against fungal pathogens. H22 (F. proliferatum) and G8 (F. equiseti) demonstrated strong inhibition potential with percent inhibition ranging from 50 to 70%. The plant growth promoting activity of endophytic fungal isolates depicted that 52%, 27% and 2% isolates were capable of siderophore production, phosphate solubilisation and HCN production respectively. A quantitative estimation of IAA production revealed that almost all the isolates were producing IAA ranging from 1.2 to 200 μg/mL. Further assessment of extracellular enzymatic potential revealed that 37.5%, 31%, 18%, 12.5% and 4% of the endophytic fungal isolates exhibited activity positive results for amylase, lipolytic, protease, cellulolytic and chitinase activity, respectively. Our results indicate that these endophytic fungal isolated can be a promising source for future applications in medicine, agriculture and industry.