Herbal mode of treatment has been in use since ancient times. Human evolutionary process has led to replacement of these herbal medications with allopathic preparations. The indiscriminate and wide spread use of antimicrobial drugs in recent years has led to acquired resistance in many microorganisms with side effects. Hence there is an off late resurgence back to herbal medications. The roots and rhizomes of Licorice has been identified to have been used worldwide as a herbal medicine and natural sweetner. Several species of Licorice have been identified which includes Glycyrrhiza glabra, G. uralensis, G.inflata. In traditional medicine Licorice has been used mainly in peptic ulcer treatment, in skin diseases, as demulcent, treatment in hepatitis C and some pulmonary diseases. Clinical and experimental studies have suggested the anti-inflammatory, anti-oxidant, anti-microbial, cardioprotective and hepatoprotective effects. Glabridin, an isoflavanoid present in Glycyrrhiza glabra contributes majorily to all its properties. This review provides a comprehensive description on the health effects of Licorice highlighting on the major constituent in it, Glabridin.