Centella asiatica is a perennial creeper, faintly aromatic and a valuable medicinal herb of both Old World and the New World. Traditionally, Centella asiatica has been valued for centuries in ayurvedic medicine for the treatment of leprosy, ulcer, asthma, bronchitis, eczemas, anxiety, urethritis, cataract, eye troubles, diarrhoea among children, skin diseases, wound healing and for revitalizing the nerves and brain cells, hence primarily known as a "Brain food" or "Memory enchancer" in India. Centella asiatica plant material was processed to the powder from and then by using the solvent methanol continuous soxlet extraction was done. Phytochemical analysis of Centella asiatica plant extracts revealed the presence of various biochemical compounds such as flavonoids, phenolic compounds, tannins etc. Since these phytoconstituents principles plays an important role in the pharmacognostic and pharmacological activities. In vitro studies on pharmacological activities of Centella asiatica supports the isolation and the use of phytoconstituents in the pharmacological research in treating the inflammations, arthritis, cancer and oxidative stress related degenerative diseases.