Abstract: Desmodium gangeticum (L.) DC., commonly known as Shalparni in Ayurveda, has been used for treating various diseases. The plant is one among ten ingredients of classical Ayurvedic formulations Dasamula. Decoctions of root and leaf, root powder and leaf juice of D. gangeticum are used as tonics, febrifuge, digestive, antiemetic, astringent, anti-asthmatic, anti-diarrhoeal and anti-inflammatory agents in traditional medicinal practices of India and its neighbouring countries. Phytochemical investigations of this plant revealed the presence of many bioactive phytoconstituents. The present review was prepared with the objective of documenting the phytochemical and pharmacological profiles of D. gangeticum. The data presented here were collected from various sources like books, journals, various online databases, and monographs and internet search engines Google Scholar, PubMed, Science Direct, etc. Studies reported from phytochemical screening revealed that D. Gangeticum leaves and roots are rich in flavonoids, alkaloids, terpenoids, tannins, phenols, carbohydrates, steroids, phenylpropanoids, pterocarpans, coumarins, and volatile oil. Among the isolated compounds, major bio-active constituents are alkaloids, flavonoids and pterocarpans. All these phytochemicals are widely distributed in various parts of D. gangeticum. The other active constituents like desmodin, hordenine and gangetin are largely responsible for its broad spectrum of therapeutic potentiality. Desmodin belongs to the class of pterocarpans and is reported to have antifungal and antibacterial activities. Gangetin, which also belongs to the pterocarpans, is reported to have anti-inflammatory and analgesic effects. FTIR spectroscopy showed that D. gangeticum extracts are mainly rich in phenolic derivatives. Scientific experiments carried out in vitro as well as preclinical animal experimentations, showed that the plant and its bioactive chemicals exhibit various therapeutic activities. It is reported that D. gangeticum extracts showed potent antioxidant, antibacterial, hypoglycaemic, analgesic, hepatoprotective, anti-inflammatory and antiarthritic activities. Studies reported that D. gangeticum or its formulations are safe when used in appropriate therapeutic dosage.