This article reviews the pharmacological properties of Ashwagandha (Withania somnifera), an important herb in Ayurvedic medicine. It contains over 35 bioactive constituents including withanolides, alkaloids, sitoindosides. Preclinical studies show it has anti-cancer, anti-inflammatory, anti-diabetic, neuroprotective effects. Clinical trials suggest it improves strength, reduces stress and anxiety. The review summarizes the active compounds, pharmacological activities, mechanisms of action, marketed formulations and safety profile of Ashwagandha based on preclinical and clinical research.