Aloe vera has long been utilized for its healing properties, primarily in treating skin injuries like burns, cuts, insect bites, and eczema, as well as aiding digestive problems due to its antiinflammatory, antimicrobial, and wound-healing capabilities. Extensive research has been conducted to validate these traditional uses and uncover the underlying mechanisms, spotlighting bioactive compounds such as aloe-emodin, aloin, aloesin, emodin, and acemannan as responsible for its therapeutic effects. Recent studies have broadened the horizons of Aloe vera, exploring new therapeutic potentials. Notably, current pharmacological investigations have emphasized its anti-cancer effects, skin and digestive protection, and antimicrobial properties. Promising results from basic research highlight the need for intensified clinical trials, especially in areas like bone health, cancer treatment, and diabetes management, to fully realize the practical applications of Aloe vera and its key constituents.