This review aims to provide a comprehensive summary of the pharmacological effects of isoliquiritigenin, a natural chalcone. The data was gathered from a variety of research papers published till 2022. The extensive pharmacological features of ISL, including its anti-inflammatory, anti-influenza, anti-tyrosinase, anti-bacterial, anti-sarcoma, anti-oxidative, anti-leiomyoma, anticholera, anti-asthma, anti-diabetic, and anti-cancer activity, neuroprotective, hepatoprotective, and cardioprotective effects, may explain its practical applicability in the treatment and prevention of many illnesses. However, to confirm the target-organ toxicity or side effects, more research is required. The creation and design of new ISL analogues based on previously discovered techniques may benefit from this review.