<p><i>Berberis microphylla</i> G Forst, commonly known as Calafate, emerges as a remarkable fruit with significant potential due to its unique nutritional and bioactive profile. Native to the Patagonian regions of Chile and Argentina, this berry showcases impressive adaptability and versatility across various environmental conditions. Its rich composition, high in polyphenols, anthocyanins, and vitamin C, underpins its growing prominence in food and nutraceutical industries. The chemical profile of Calafate reveals substantial nutritional value, with notable concentrations of anthocyanins such as delphinidin-3-glucoside and petunidin-3-glucoside, which are associated with its antioxidant properties. Studies highlight the role of Calafate in reducing oxidative stress and obesity-related inflammation, showing potential protective effects against chronic diseases. In vitro studies support these findings, demonstrating Calafate`s ability to reduce inflammation, improve insulin sensitivity, and protect against neurodegenerative diseases and cancer. Research in animal models suggests that Calafate supplementation can enhance metabolic markers related to insulin sensitivity, glucose tolerance, and cardiovascular health. This review uniquely integrates nutritional, chemical, and preclinical evidence on Calafate, highlighting its potential as a functional food and nutraceutical source. At the same time, it underscores key gaps, most notably the lack of human clinical studies, the need for extract standardization, and limited knowledge on bioavailability and long-term safety, thereby outlining priorities for future research and clinical translation.</p>