Nardostachys jatamansi is a critically endangered medicinal plant which is immensely used in traditional medicine. Belonging to the Valerianaceae family, it’s a miniature, perennial herbaceous plant with hairy rhizomes and found in alpine and sub-alpines regions of the Himalayan range. It has been used in traditional Indian medicine system since ages and has prominent evidences in disease curing ability. The Ayurvedic, homeopathic, and ethnomedicinal practices also pave pathway to modern pharma industry for its enlarged antiquity usage. It has been reported by several researchers as antispasmodic, antiepileptic, hepatoprotective, anticonvulsant, neuroprotective, anti-Alzheimer’s, anti-Parkinson’s and antidepressant. The major secondary metabolites present in the plant are mainly nardostachone, jatamansone and actinidine which are solely responsible for its so far known efficacies. They are excellent vasodilators, bronchodilators and inhibit aggregation of platelets. Among these, jatamansone showed antiarrhythmic and antihypertensive activities. This chapter discusses on the holistic information of the plant Nardostachys jatamansi where its geographical distribution, habitat loss, morphological description, microscopical description, nutrient analysis, phytochemical attributes, traditional and enthomedicinal significance and different pharmacological efficacies are discussed elaborately. Furthermore, future prospects, significance and judicious utilization are also demonstrated which can help the researchers in exploring the plant more for its utilization in human health besides, thinking upon different strategies for its conservation.