Gum is a plant-based substance that, when combined with water, creates a thick, sticky solution or gel. Chemically, they are polysaccharides. Some of their characteristics, including plentiful abundance, biodegradability, nontoxicity, and low price, make them more useful in the commercial food and pharmaceutical industries than synthetic polymers. Holy basil (Ocimum sanctum) is a culinary herb of the Labiatae family, with over 150 species in the genus Ocimum. The seed-gum of Ocimum is a complex polysaccharide. It is mostly constituted of d-xylose (35%), d-galacturonic acid (28%), l-arabinose (21%), and l-rhamnose (16%), with traces of galactose and glucose. It has a lengthy, branched (1 → 4) linked xylan backbone in its polysaccharide chain. Protein solubility, syneresis, foaming efficiency, foaming stability, emulsification efficiency, emulsification stability, pH, total dietary fiber, insoluble dietary fiber, soluble dietary fiber, viscosity, and sticking temperature are all physical parameters that have been reported. The qualities of emulsification action, sticky properties, foaming stability, gel formation, viscosity, surface-active activity, and high stabilization demonstrate their usefulness in the processing of functional foods and dairy-derived products. Its capacity to disintegrate and entrap drugs as a polymer matrix is important for innovative drug delivery methods. As a fat substitute, basil seed gum (BSG) is employed in dairy and functional foods to retain their stability, texture, taste, and other organoleptic features. According to a thorough analysis of the literature, basil seed gum has several biological actions such as antibacterial, prebiotic, antioxidant, shelf-life enhancer, antidiabetic, cholesterol, and bile acid-binding. The most recent scientific research on basil seed gum’s chemical, physical, and biological characteristics and uses is gathered from a range of research papers in this study.