Mentha spp. are aromatic plants and have been used in the medical, cosmetics, and food industries. These plants have been used as a traditional herbal medicine for various types of diseases. Mentha aquatica L. (water mint) is a perennial plant used as a wild vegetable and a culinary herb. As its name suggests, it grows in the shallow margins and channels of streams, rivers, wet meadows, etc. It has been used as a tonic plant, sedative, and soothing for intestinal parasites, constipation, diarrhea, stomach troubles, biliousness, liver diseases, impotence, low or high blood pressure, and expelling intestinal worms in children, enhancing longevity. Researchers from all over the world have studied the chemical composition and pharmacological activities of this plant, such as its anti-microbial, anti-inflammatory, and anti-oxidant activities. In addition, the neurochemical properties, larvicidal activity, and phytochemical analysis of the plant have also been reported. However, there is no review article available that gathers all the information and provides insights for future studies on M. aquatica. Against this backdrop, the present research is conducted to categorize the published studies and to offer more suggestions to researchers for future studies.