The manuscript provides an overview of recent scientific reports on the properties and range of health-promoting effects of acerola (Malpighia emarginata DC) fruits and leaves. Acerola is a natural raw material that, in its unprocessed form, is known to be a rich source of vitamin C and polyphenolic compounds. For this reason, the consumption of acerola may provide a number of health-promoting benefits, particularly related to its strong anti-free radical effects. The review discusses anti-inflammatory and anticancer effects of acerola fruit and leaves as well as its therapeutic effects on selected physiological processes in the human system. Their biochemical mechanisms are also explained. Recommendations for the consumption of acerola in the prevention of inflammatory and free radical diseases are presented. The part of the article devoted to anticancer effects of acerola describes the possibilities of using the edible parts of this raw material to obtain products and preparations of potential use in cancer prevention and therapy.