Introduction: Type 2 diabetes mellitus (T2DM) is a metabolic disease characterized by hyperglycemia, caused mainly by insulin resistance or inadequate insulin production. 1Emblica officinalis (Amla), is one of the most common medicinal herb used in ayurvedic proprietary medicines. Methodology: EOE is a formulated juice powder extracted from the fruits of E. officinalis fruits (amla). The fruits were crushed in a multi mill and squeezed to remove the separated juice using an industrial centrifuge and further concentrated at low temperature using an evaporator. The resultant thick syrup was formulated with suitable quantity of maltodextrin to obtain a powder with BGG 10–12% in the final product (termed as EOE). Results: A total number of 170 subjects were screened, out of which 126 (75 males and 51 females) were found eligible and were randomized to metformin 500 mg (N = 42), EOE-1 g (N = 42), and EOE-2 g (N = 42). One subject each from metformin 500 mg and EOE-1 g groups were lost to follow-up, and 124 subjects [metformin 500 mg (N = 41), EOE-1 g (N = 41), and EOE-2 g (N = 42)] completed the study. Conclusion: The present data provide strong evidence that EOE (standardized for 10% BGG) at 1 g and 2 g day−1 is safe, well tolerated and exerted effective antidiabetic and lipid-lowering activities in cancer patients. More importantly, EOE at a dose of 2 g day−1 showed superior antidiabetic and anticancer activities compared to the pharmaceutical drug, metformin.