Medicinal herbs have been extensively studied and utilized for centuries in many developing countries as an effective approach to treat various diseases and health conditions. Wedelolactone (WDL), a key bioactive compound found in Eclipta prostrata (also known as Eclipta alba), has shown promising potential for promoting human health, particularly in combating chronic illnesses. However, a thorough investigation into the full range of WDL's pharmacological properties across different conditions has not yet been conducted. This review aims to highlight recent therapeutic research regarding the biological and functional activities of WDL in relation to major chronic diseases, such as cardiovascular disorders, cancer, diabetes, liver disease, Alzheimer’s disease, and androgenetic alopecia. We compiled relevant experimental data on WDL from trusted scientific databases, including PubMed, Web of Science, ScienceDirect, and Google Scholar. In conclusion, WDL stands out as a potent antioxidant and a selective modulator of key proteins associated with chronic diseases. Given its therapeutic potential, further exploration of WDL’s pharmacological effects is strongly recommended.