Milk Thistle, Silybum marianum Gaertn. plant has been used for centuries as a natural remedy for several diseases. Its active constituent, silymarin displays several medicinal properties, viz. antioxidant, hepatoprotective, cytoprotective, amelioration of hepatic collagen accumulation in advanced fibrosis, immunomodulatory activity, etc. Present paper summarizes various research reports on the medicinal properties of the plant with special reference to silymarin.