<p><i>Hippophae rhamnoides</i> L., commonly known as sea buckthorn (SBT), is recognized for its high medicinal and nutritional value. Traditionally used in systems like Ayurveda, SBT has been extensively studied for its active principles, which provide a wide range of pharmacological properties. This review aims to provide a comprehensive overview of the phytochemistry, ethnobotany, pharmacological activities, nutritional, pharmaceutical, and industrial applications of <i>H. rhamnoides</i>, while highlighting its significance in functional foods, nutraceuticals, and cosmetics. A systematic literature search was conducted using databases such as PubMed, Scopus, and Google Scholar, using various keywords used including <i>Hippophae rhamnoides</i>, sea buckthorn, ethnobotany of sea buckthorn, phytochemistry of sea buckthorn, pharmacological activities of sea buckthorn, and industrial applications of sea buckthorn. Studies were screened for relevance to the plant’s bioactive compounds, pharmacological effects, and commercial potential. SBT is rich in active constituents such as vitamin C, carotenoids, polyphenols, sterols, and essential fatty acids. SBT has demonstrated to possess antioxidant, anti-inflammatory, anti-cancer, immunomodulatory, hepatoprotective, cardioprotective, anti-diabetic, antibacterial, antiviral, anti-ulcer, radioprotective, anti-stress, adaptogenic, and wound-healing activities. The plant is widely utilized in functional food formulations, cosmetics, beverages, nutraceuticals, and animal feed. <i>Hippophae rhamnoides</i> exhibits significant promise as a multifunctional plant with wide-ranging applications in medicine, nutrition, and industry. SBT acts as a diverse bioactive composition, and evidence-based pharmacological activities make it a promising candidate for future therapeutic innovations and broad commercial applications.</p> Graphical abstract <p></p>