L-Ascorbic acid, commonly known as vitamin C is well-known in chemistry since long back. It has tremendous medical applications in several diseases. However, application of this chiral molecule in organic synthesis has been neglected earlier. In the later part of twentieth century application of ascorbic acid has gained momentum in organic synthesis of different molecules of biological importance and of chemotherapeutic significance. We have given an account of the history, chemistry, biochemistry and biosynthesis of ascorbic acid and application of this small molecule in organic synthesis. The application of ascorbic acid in accessing chiral synthons has also been described.