Background:: Depression is a psychiatric and mood disorder that impacts a person's mental health and behavior and is frequently linked to suicide. As per the World Health Organization's estimate, depressive disorder will be the main cause of mental disorders by the year 2030, and it has a huge impact on the burden of disease in the world. To treat depression, there are pharmacological and nonpharmacological therapy alternatives. With little to no consideration of other neurochemicals altered in depression, most antidepressant preparations are based on the monoamines, neuroendocrine, and neuro-inflammation concepts. Objective:: The present study aims to provide comprehensive data related to depression, the factors associated, the mechanism involved, herbal plants effective for managing depression, and novel formulations along with patents and clinical trials. Methods:: A thorough assessment of herbs and novel formulations that have been proven effective in treating depression was conducted. After extensive review, the present study includes a mechanism of action of herbal plants showing antidepressant effects, novel formulations, patents, and clinical trials related to depression. Results:: Numerous studies reported that diverse herbal plants have been found to have a positive effect on depression management, such as Panax ginseng, Melissa officinalis, Piper methysticum, Schinus molle L, Kielmeyera coriacea Mart, Elaeocarpus ganitrus, Hypericum perforatum, Lavandula angustifolia Mill, Crocus Sativus L. Conclusion:: Herbal plant research could help establish the potential of isolated compounds from plants with medicinal properties for managing depressive illnesses.