Digera muricata (L.) Mart. or False Amaranth (Family: Amaranthaceae) is an annual edible herb with remarkable therapeutic and nutritional significance. The present study aims to build an interconnection between traditional uses and scientific studies by critically assessing fragmented literature on ethnobotany, phytochemistry, pharmacology, and nanotechnological studies of D. muricata. This plant is native to Eastern tropical and northeastern areas of Madagascar and Africa but is also distributed in subtropical Asia, Malaysia, India, Indonesia, and Afghanistan. Since antiquity, it has been reputed for its medicinal values, including stomachic, bowel complaints, urinary disorders, constipation, lactation purposes, renal protection, fever, laxatives, diuretics, etc. The traditional medicinal values of this plant developed the keen interest of scientists to investigate the bioactive compounds and pharmacological potential of D. muricata. This study reveals that various phytoconstituents belonging to classes flavonoids, alkaloids, sesquiterpenes, cyanazines, and fatty alcohols have been identified from this plant. Crude extracts and bioactive compounds showed various pharmacological activities, including antimicrobial, anticancer, antioxidant, hepatoprotective, anti-testicular, anti-inflammatory, renal protection, etc. D. muricata has also been utilized in the field of nanotechnology for the biogenic synthesis of nanoparticles to improve its biological efficacies. However, this plant is still less explored for molecular mechanisms underlying biological efficacies, and bioactive compound isolation, presenting a research gap. Further, more pharmacological studies are needed to fill this research gap. Comprehensive analytical studies on the structural activity relationship of isolated bioactive compounds may improve biological efficacies and scientific exploitation of traditional uses of Digera muricata in future.