Ethnopharmacological relevance: The family Arecaceae is one of the largest plant families in the world. It is widely distributed in tropical regions (Brazil, Saudi Arabia, Middle Eastern countries and Egypt, Indonesia, Malaysia, and Thailand). Traditionally, plants of this family were used to treat various disorders, like gastrointestinal ailments, diabetes, spasms, sexual dysfunction, nephritis, rheumatism, cough, diarrhea, and hypertension. Aim of the review: This review highlights the biological properties, phytochemistry, and chemotaxonomic classification of the phytochemicals of different species of the family Arecaceae. Materials and methods: The relevant information on the family Arecaceae was collected from scientific databases (Google Scholar, ScienceDirect, ACS Publications, PubMed, Wiley Online Library). Information was also collected from online databases and books. theses. The literature cited in this review dates from 2001 to June 2022. Result: About 141 compounds have been isolated from different species of the family Arecaceae, including flavonoids, fatty acids, terpenoids, fatty acid esters, sugars, fatty alcohols, vitamins, carotenoids, tannins, ceramide derivatives, glyceryl derivatives, stilbenoid derivatives, simple phenolic glycosides, sterols, alkaloids, lignans, amino acids, and phenolic compounds. Their structure and presence in each species of this family are presented in tabular form. In biological studies, the crude extracts and metabolites of the medicinally important species of the family Arecaceae have different biological activities, including, antioxidant, antimicrobial, analgesic, renal protective, antiparasitic, cardioprotective, antidiabetic, anti-mutagenic, antiinflammatory, anticancer, diuretic, hepatoprotective, antihyperlipidemic, antipalatelet, antiviral, antipyretic, antifungal, antidiarrheal, antitrichomonal, antiacetylcholinestrase, and antihypertensive. This review examines folkloric uses, phytochemistry, and biological activities of selected members of this family.