Polygonatum verticillatum (L.) All. is a perennial herb commonly known as whorled solomons seal belonging to the Asparagaceae family and has a long history of uses in folklore and Indian and Chinese systems of medicine. The P. verticillatum is categorised under Astavarga group of drugs. It is widespread in Europe, China, Pakistan, and the Western Himalayas of India. Aerial and rhizome parts of the plant exhibit antipyretic, anticonvulsant, antimalarial, and antioxidant activities and are also used to treat spermopiotic, burning sensation, phthisis and urine-related problems. The aim of this review is to provide a systematic update on the ethnomedicinal and pharmacological uses, chemistry and formulations of P. verticillatum. Exhaustive bibliographic research has been carried out by different search engines like Sci Finder, Google Scholar, Scopus-Elsevier, various chemical abstracts, Medline, Web of Science, Directory of Open Access Journal (DOAJ) from inception until November 2024. In addition, books, non-English journals, and local literature were reviewed and included. As per the scientific literature, P. verticillatum has been reported to have less than thirty compounds, while the genus is reported to contain more than 116 compounds. A systematic update on P. verticillatum has been discussed with the aim of highlighting the importance of this plant.