<p>Black rice, referred as “forbidden rice,” is a rich source of essential micronutrients and bioactive compounds known for its distinctive color, aroma, and superior health benefits compared to conventional varieties. This review provides a comprehensive exploration of the genetic and biochemical pathways of its unique traits. We delve into the anthocyanin biosynthesis pathway, responsible for the characteristic pigmentation, and the role of key genes like <i>Kala4</i>, whose promoter rearrangement drives this trait, a significant evolutionary development of this cultivar. The synthesis of the aromatic compound 2-acetyl-1-pyrroline (2-AP) is also detailed. Beyond genetics, the review details the rich profile of bioactive compounds, including flavonoids, phenolics, and γ-oryzanol, which contribute to potent antioxidant, anti-inflammatory, and anti-carcinogenic properties. The novelty of this review lies in its integrated synthesis of the molecular genetics underlying pigmentation and aroma with the demonstrated health-promoting chemical properties. The significant potential of black rice as a functional food and natural alternative to synthetic additives is often overlooked, despite its promise for enhancing global food security and public health.</p> Graphical Abstract <p></p>