Background: Emulgels combine the properties of emulsions and gels, offering a unique drug delivery system that enhances the solubility and stability of hydrophobic drugs. This study reviews recent advancements in emulgels and their potential in pharmaceutical applications. Objective: To systematically review the current state of research on emulgels, focusing on formulation techniques, characterization methods, and therapeutic applications. Methods: A comprehensive literature search was conducted using databases such as PubMed, Scopus, and Web of Science, covering studies published from 2010 to 2023. Inclusion criteria included articles discussing formulation techniques, characterization, and therapeutic applications of emulgels. Data extraction and quality assessment were performed independently by two reviewers. Results: Various formulation techniques, such as high-energy emulsification, phase inversion, and solvent evaporation, have been explored to enhance the bioavailability of hydrophobic drugs. Recent advancements introduced novel methods like microfluidization and ultrasound-assisted emulsification to improve formulation efficiency. Characterization techniques, including rheological analysis, particle size determination, and drug release studies, are crucial for optimizing emulgel formulations. Several patents have been filed, reflecting innovative approaches in emulgel technology, such as incorporating nanomaterials and targeted delivery systems. Therapeutic applications of emulgels have been extensively studied in dermatology, pain management, and antimicrobial therapy, showing promising results in enhancing drug efficacy and patient compliance. Conclusion: Emulgels present a versatile and efficient drug delivery system with significant potential in various therapeutic areas. Future research should focus on the large-scale production of emulgels and their long-term stability to facilitate their transition from research to clinical practice.