Current studies were performed to evaluate the medicinal importance of propolis and its origin and physiochemical composition depending upon the nature of vegetations present in various localities. The propolis contains a myriad of chemical compounds such as flavonoids, esters, phenolic acid, amino acids and terpenoids. Different analytical techniques (e.g., TLC, GC, HPLC, MS, NMR and GC-MS) are used for the characterization of various constituents of Propolis. Propolsi finds biomedical importance and numerous clinical applications as it possesses large quantities of anti-oxidants, anti-bacterial, anti-fungal, anti-viral and anti-inflammatory agents and also displays anticancer potential.