Abstract: Parthenium hysterophorus is an aggressive weed being invasive with allelopathic effect, it poses a serious threat to the environment and biodiversity. It adversely affects grazing animals and human beings, which directly or indirectly comes in contact with this weed. All ways to control it are not fully successful. However, recent reports suggest its medicinal uses as antidiabetic, antioxidant, antitumor and antimalarial which can be explored for human use after scientific trials. It is also a rich source of minerals like N, P, K, Fe, Mn, Cu and Zn which also makes it useful for agriculture. Uprooted Parthenium before fruiting can be used as easily available, cheap and nutrient rich compost. Parthenium can also be used as a potent herbicide, insecticide, pesticide and phytoremedial agent for metal and dye removal from industrial waste. As, Parthenium has various beneficial and harmful effects so, it should be used after thorough research.