Saussurea lappa Clarke (Compositae) is a traditionally known and potent plant which is well considered for its medicinal uses in different indigenous Indian systems of medicine. It is popularly known as Kuth root or costus and used in various traditional system of medicine for its anti-ulcer, anti-convulsant, anti-cancer, hepatoprotective, anti-arthritic, anti-viral activities. Several of its activities are well proved and established through in-vitro, in-vivo methods which gave a rationale scientific approach to the traditional claims. Phytochemical compounds isolated from this plant such as costunolide, Isodihydrocostunolide, cynaropicrin etc. were proven to be bio-active and potential source for developing new molecules. Due to the significant proven activities Saussurea lappa is having considerable chance for new drug discovery. This review is an effort to explore the different phytoconstituents and the pharmacological activities of Saussurea lappa.