Avicennia marina (Forssk.) Vierh., known as “BaiGuRan” in China, is a mangrove plant with both medicinal and edible properties. A. marina has traditionally been used as a folk medicine in many Asian and African countries, including China, Pakistan, Iran, Indonesia, and Egypt, for the treatment of ulcers, smallpox, abscesses, rheumatism, wounds, snakebites, skin diseases, and diarrhea. This review aims to furnish a comprehensive overview of the botany, traditional uses, phytochemistry, pharmacological activities, and toxicity of A. marina with a view to providing a scientific basis for its further development and utilization. The relevant information on A. marina was collected from a series of electronic databases, and > 100 scientific studies have been used since 1961. Up to now, systematic phytochemical investigation on different parts of A. marina resulted in the isolation and identification of 124 structurally diverse compounds, including iridoid glucosides, phenolic glycosides, naphthalene derivatives, flavonoids, organic acids, terpenoids, steroids, lignans, and others. Among these, iridoid glucosides and naphthalene derivatives are considered as the characteristic components of A. marina. In addition to the structural diversity of phytochemicals, both crude extracts and monomeric compounds obtained from A. marina display broad-spectrum bioactivities, including antioxidant, antibacterial, antifungal, antitumor, antiviral, hepatoprotective, antiparasitic, antidiabetic, anti-inflammatory, anti-hyperlipidemic, and other activities. Although some progress has been made on A. marina, further studies on its molecular mechanisms, pharmacodynamics, quality control, toxicological evaluation, and clinical application are still warranted.