The traditional systems of medicine together with folklore medicine continue to play a significant role in our health care system for the betterment of mankind. Butea monosperma (Lam.) kuntze is a commonly used herb in Ayurvedic medicine. Butea monosperma (Palas) belongs to the family Fabaceae, grown wildly in many parts of India. The plant is used highly by the rural and tribal people in curing various disorders. Butea monosperma has an effective natural origin that has a tremendous future for research. The novelty and applicability of Butea monosperma are hidden. Such things can be overcome through modern scientific research. The present article describes various traditional and medicinal utility of the plant and an attempt was made to gather information about the chemical composition and pharmacological activity of the plant and/ or its constituents.