Epigallocatechin gallate (EGCG), a major catechin in green tea (Camellia sinensis), has garnered significant attention owing to its diverse therapeutic and industrial potential. This review critically evaluates recent advancements in the pharmacological actions of EGCG, including its anti-inflammatory, antimicrobial, antioxidant, cardioprotective, neuroprotective, and anticancer properties. The underlying molecular mechanisms including modulation of key signaling pathways, such as NF-κB, MAPK, and PI3K/Akt, are discussed in detail, highlighting both established and emerging targets. Despite its promising bioactivity, the clinical translation of EGCG is hindered by limitations such as first-pass metabolism, poor bioavailability, bitter taste, rapid degradation, and organ toxicity. Advances in nanodelivery systems, including lipid-based carriers, polymeric nanoparticles, and nanoemulsions, have emerged as potential solutions that improve the solubility, absorption, and stability of EGCG and deliver it to target sites, thereby improving its therapeutic efficacy. Furthermore, the industrial applications of EGCG in functional foods, pharmaceuticals, nutraceuticals, cosmeceuticals, are reviewed, with emphasis on its safety, regulatory aspects, and commercial viability. This review provides multidisciplinary evidences to identify opportunities and limitations in EGCG-based research and outlines future directions for its clinical translation and optimized use in health and disease management.