Melatonin is a derivative of tryptophan and consists of a conserved domain present ubiquitously from bacteria to higher organisms. Melatonin is an emerging pleiotropic plant growth hormone that is pivotal in coping with various biotic and abiotic stress conditions. It regulates downstream signaling transduction that modulates plants' physiological and biochemical pathways. Melatonin can be externally applied and could strengthen the stress tolerance mechanism of plants by enhancing ROS-scavenging enzymatic and non-enzymatic antioxidant defense systems. Which consequently exhibits lower lipid peroxidation, MDA content, greater enzyme activity, metabolic pool, ion homeostasis, and plasma membrane integrity under stress conditions. In addition, melatonin protects photosynthetic machinery by maintaining cell membrane stability and chlorophyll recovery. It also stimulates the electron transport chain during photosynthesis and D1 protein biosynthesis and maximizes the photochemistry efficiency (Fv/Fm) of photosystem II and photochemical quenching. Besides abiotic stress, melatonin plays a significant role in biotic stress tolerance. This review emphasizes Melatonin as a stress protectant under biotic and abiotic stress. Further, we have highlighted integrating advanced biotechnology tools with recent information for the possible application of melatonin in the current scenario of changing climate.