Abstract <p>Ursolic acid (UA) is a common natural compound of the pentacyclic triterpenoid class with multifaceted pharmacological activity. The diversity of sources emphasizes the potential application of UA from natural plant components for various therapeutic and prophylactic purposes. This review presents the current state of knowledge on the properties of this widespread bioactive compound, as well as information on its sources, biosynthesis and applications in pharmaceutical, cosmetic and agricultural fields. Apart from promising pharmacological effects, this review recognizes the existing obstacles in the clinical application of UA due to the low bioavailability of the triterpenoid, highlighting the need to modify delivery forms and/or improve the original UA framework through chemical modifications.</p>