Amalaki (Emblica officinalis) has a prime position in Ayurveda- an Indian indigenous system of medicine. Amalaki belongs to the family of Euphorbiaceae and is also known as Phyllanthus emblica or Indian gooseberry. Amalaki is one of the most important medicinal plants in Indian traditional systems of medicine (Ayurveda, Unani and Siddha). It is a well-known fact that all parts of Amalaki are useful in the treatment of various diseases. Among all, the most important part is fruit. The fruits of Amalaki are widely used in the Ayurvedic preparation and it increase defense against diseases. It has a beneficial role in degenerative diseases like cancer, diabetes, liver treatment, ulcer, anaemia, eye diseases, and heart trouble and also is an important constituent in hepatoprotective and rejuvenating formulas available. Phytochemical studies on Amalaki disclosed major chemical constituents including tannins, alkaloids, polyphenols, vitamins and minerals. Gallic acid, ellagic acid, emblicanin A & B, phyllembein, quercetin and ascorbic acid are found to be biologically effective. It is enormously used as a tonic to restore the lost body’s energy and vigor, mentioned under Triphala (~combination of three potent fruit) in Ayurveda. In this article, we will emphasize on its various therapeutic applications as per modern researches and our classical texts. We will also discuss about the nutritional value, biochemical constituents, medicinal value of Amalaki and its use as a household remedy.