A useful therapeutic herb in the old and new worlds, Centella asiatica (L.), is a perennial creeper with a subtle scent. It can be found all across the world's tropical and subtropical regions. Its useful functional qualities are primarily responsible for the rise in its use in food and drink over time. Numerous reports have demonstrated its potential for antioxidant, antimicrobial, cytotoxic, neuroprotective, and other activities. These activities are essentially closely linked to the characteristics and mode of action of the plant's bioactive constituents, which include flavonoids, other phenolic compounds, triterpenic acid (asiatic acid and madecassic acid), and triterpenic saponin (madecassoside and asiaticoside). Several applications have been supported by science, which has confirmed the bioactive components. This review evaluated the ancient literature that is available in search of C. asiatica's therapeutic efficacy to give a concise overview of this plant.