Ellagic acid is a polyphenol antioxidant found in numerous fruits and vegetables including raspberries, strawberries, cranberries, walnuts, pecans, pomegranates and other plant foods. The antiproliferative and antioxidant properties of ellagic acid have spurred several researches into the potential health benefits of its consumption, leading to its marketing as a dietary supplement. Recently, ellagic acid was shown to display interesting and usable antimalarial activity. However, the relatively insolubility of this compound in water and organic solvents, and its low bioavailability tend to disqualify it as a potential drug candidate. In this review, we will discuss the potential of ellagic acid and derivatives as antimalarial drug candidates. While highlighting their numerous biological and pharmacological activities against other human ailments, we will evaluate the possibility of developing this family of compounds as antimalarial drugs, and discuss strategies and related challenges to achieve that goal.