Fenugreek is known for its medicinal qualities such as antidiabetic, anticarcinogenic, hypocholesterolemic, antioxidant, and immunological activities. Beside its medicinal value, it is also used as a part of various food product developments as food stabilizer, adhesive, and emulsifying agent. More importantly it is used for the development of healthy and nutritious extruded and bakery product. The main chemical components of fenugreek are fibers, lavonoids, polysaccharides, saponins, fixed oils and some identified alkaloids. Mature seeds mainly contain amino acid, fatty acid, vitamins, saponins and a large quantity of folic acid. It alsocontains disogenin, gitogenin, neogitogenin, homorientin saponaretin, neogigogenin, and trigogenin. The endosperm of the seed is rich with galactomannan. The young seeds mainly contain carbohydrates. In this review paper, the potential of fenugreek for disease prevention and health improvement has been emphasized.