Paris polyphylla J.E. Smith is extensively used in traditional systems of Indian and Chinese medicines mainly for its anticancerous property. The national and international demand for P. polyphylla is constantly increasing and most of the supplies come from wild. Illegal and unscientific exploitation coupled with habitat destruction decreases the natural population of the herb, as a consequence this species comes under vulnerable category. Restoration and conservation of the natural population of this potential herb is prerequisites. This article aims to provide an overview on chemical and biological prospective of P. polyphylla. Secondary metabolites such as daucosterol, polyphyllin D, β -ecdysterone, Paris saponins I, II, V, VI, VII, H, dioscin, oligosaccharides, heptasaccharide, octasaccharide, trigofoenoside A, protogracillin, Paris yunnanosides G-J, padelaoside B, pinnatasterone, formosanin C and 20-hydroxyecdyson saponins have been isolated from P. polyphylla. Several biological activities such as anticancerous, antitumor, cytotoxic, anthelmintic, antimicrobial, antiangiogenic, immunostimulating, contractile and hemostatic have also been reported. Consequently, this review will be helpful to the researcher and scientist for further research.