Herbal plants act as a significant source for discovering new compounds with potential therapeutic activities. Polyalthia longifolia, which is commonly known as an Indian mast tree, has various pharmacological properties, such as an anticancer, ulcer protective, hypoglycemic, hypotensive, a corrosion inhibitor, a bio-adsorbent, and few more. Moreover, it is known as false ashoka owing to its close resemblance with Saraca indica (ashoka tree). Various compounds have been reported from the extract of some parts of the plant, such as leaves, bark, root, and seeds. These extracts possess an ability to treat a number of human ailments, such as fever, ulcer, skin diseases, helminthiasis, and cardiac problems. Studies performed on the leave extract shows evidence that some compounds cause cell death in various cancer cell lines. The plant also has some biological applications, such as antibacterial, antiviral, and antimicrobial, which makes it clinically significant and useful. This review is an effort to explore and gather plant information in an organized manner. It reveals detailed information about the propagation, synonyms, vernaculars, varieties of plant, medicinal significance, ecology and distribution, botanical and ethnobotanical description, phytochemical constituents, and pharmacological activity of the plant.