The number of hypercholesterolemic and hyperglycemic people is increasing rapidly in the world. The prevention against these health problems is related to a complex management of conventional and non-conventional risk factors. The inclusion of dietary fiber in the diet is the right approach to reduce these risks. Cholesterol and glucose lowering effects are most often associated with gelling, mucilaginous, and viscous fibers such as guar gum, an edible thickening agent. It has widespread applications in the food industry due to its ability to hydrate without heating. The demand for guar gum is still growing rapidly because in addition to its indispensable role in lowering serum cholesterol and glucose levels, it is also considered helpful in weight loss programs. The main thrust of therapeutic and medicinal properties lies in the soluble dietary fiber content of guar gum to improve the serum biochemical profile of human and non-human primates, reducing total serum cholesterol, triglycerides, increasing the high density lipoprotein cholesterol level, and the management of glycemic indices and obesity. Among the various intervention strategies, diet diversification is the right approach to overcome these problems. Composite flours containing wheat and legumes have proven practical uses and are being utilized in many parts of the world to improve the nutritional and functional properties of flour. The main focus of this manuscript is to review the available information on various aspects of guar gum with special reference to its effectiveness in reducing the cardiovascular disease risk, diabetes and weight loss programs.