Ocimum basilicum is a common herb well known for its importance for ornamental and therapeutic purposes. Chemical components that have been isolated from O. basilicum plants include terpenoids, alkaloids, flavonoids, tannic acid, saponin glycosides, and ascorbic acid. O. basilicum has liver protection, immune regulation, anti-hyperglycemia, hypolipidemic, anti-toxin, anti-inflammatory, anti-bacterial and anti-fungal effects. This paper aims to review the latest progress in phytochemical research and pharmacological research of O. basilicum, which will assist various practitioners and clinicians in understanding the traditional and modern uses of O. basilicum.