Medicinal plants have been an important part of ancient health care systems for centuries, and is offering a widespread range of medicinal benefits with less or zero side effects. Uttarakhand, a Himalayan state in India, is gifted with a rich biodiversity of native flora, boasting a diverse array of medicinal herbs with vast potential for treating several ailments. This comprehensive review explores the therapeutic potential of important selected plant species, focusing on their active components and therapeutic properties. The study highlights the antidiabetic, antimicrobial, antioxidant, and other helpful activities showed by the bioactive compounds synthesized by these plants. The key findings of this review emphasize the urgent need for further research to identify and illustrate the specific bioactive components responsible for the therapeutic effects, as well as to assess their clinical success through rigorous scientific studies. The important selected plant species shows an auspicious potential because of their high biologically active components in them which contribute to their valuable properties. However, the review also underlines the threats faced by these medicinal floras, including deforestation, urbanization, and uncontrolled tourism, which could lead to the loss of this precious natural resource and the native knowledge linked with it. The study not only highlights the medicinal importance of plants in Uttarakhand but also stresses the serious necessity for conservation efforts to reserve this rich biodiversity and traditional knowledge of Uttarakhand. Further investigation and ranking of these medicinal plants based on their efficacy could cover the way for the expansion of safer and more effective medications, ultimately contributing to worldwide health benefits.