Medicinal and pharmacological significance of the Acorus species is steadily increasing. Several species mainly Acorus calamus, A. christophii, A. tatarinowii and A. gramineus have been investigated for their chemical compositions and bioactivities. Perhaps, A. calamus has been most extensively studied plant among others. A number of active constituents from leaves, rhizomes and essential oils of Acorus spp. have been isolated and characterized. The major active constituents identified were α-and β-asarones and held responsible for most of the bioactivities of Acorus species. Besides, more new active constituents possessing important bioactive properties are being isolated and identified from Acorus spp. A number of reports published have documented many new useful bioactivities of Acorus spp. whole plant extract, leaves and rhizome extracts, essential oils and α- and β-asarones such as, anti-inflammatory/ immunosuppressive, anti-adipogenic, antimicrobial, fungicidal, insulin sensitizing/anti-diabetic, neuro-protective, wound healing, mitogenic, insecticidal, anthelmintic, allelopathic, antiepileptic, antispasmodic activities and inhibitor of acetylcholine esterase. In the present article we have discussed recently recognized many newer bioactivities and chemical composition of Acorus spp. This study would be very useful for those conducting researches on bioactivity screening in Acorus spp. and similar other less studied species of the plants.