Madhuca longifolia (J. Koenig) J.F. Macbr. belongs to the family of Sapotaceae, and is also commonly known as mahua or butternut tree. Each part of the plant is known for its unique medicinal properties. This review aims to enhance the application of this plant in various sectors and also extend the therapeutic potential of Madhuca species in pharmaceuticals, cosmeceuticals, agriculture and the food industry. Madhuca longifolia and all its products are widely used as a traditional and herbal medicine system. Even though they are used traditionally by a population of local areas, the potential of therapeutic existence is still uncovered. This systematic review is an exhaustive compilation of detailed data on phytochemistry, wide ethnopharmacological uses, medicinal properties and commercial application of mahua in different sectors, with the potential of spasmogenic, oxytocic, uterotonic, anti-bacterial, anti implantation, anti-tumor, anti-progestational, antiestrogenic and anti-cancer activity against menorrhagia, etc. M. longifolia is also used for stomach aches, snake bites, scorpion bites, bone fractures, treatment of piles, joint pains, etc. Moreover, it is used to increase breastmilk production. It will also provide a path for future research for the development of herbal drugs and other products for agriculture and the food industry, contributing to the development of both these sectors.