Terminalia spp., a genus in the Combretaceae family, includes species widely used in traditional medicine across India, Africa and Southeast Asia. This review explores the phytochemical composition and therapeutic potential of species like Terminalia bellirica and Terminalia chebula. Despite their extensive use, these species remain underexplored in terms of their bioactive compounds and mechanisms of action. Their medicinal properties are attributed to key phytochemicals, including tannins, flavonoids, phenolic compounds, glycosides, and triterpenes. These contribute to a wide range of pharmacological effects such as antioxidant, anti-inflammatory, antimicrobial, cardioprotective, hepatoprotective and anticancer activities. The mechanisms underlying these effects primarily involve modulation of oxidative stress pathways, inflammatory mediators and cell signaling. However, further research is needed to fully understand the underlying mechanisms and unlock the full therapeutic potential of Terminalia spp. in modern medicine.