The genus Glycyrrhiza (Fabaceae) with over 30 species, includes plants with abundant medicinal properties that have been prevalently used for a long time in traditional medicine. Today, along with the rapid development of modern medicine, this traditional medicine still plays an important role in research and developing many new drugs. This report emphasized the contribution of some major components of Cam thao (Licorice), one of the species with multifaceted pharmacological effects and used to produce new drugs. Numerous studies have discovered that Licorice contains important substances that affect the physiological activities of living organisms, such as liquirtin, rhamnoliquirilin, liquiritigenin, prenyllicoflavone A, glucoliquiritin apioside, 1-metho-xyphaseolin, shinpterocarpine, shinflavanone, licopyranocoumarin, isoflavone, licoarylcoumarin, glycyrrhizin, and manifold components. In this review, the most recent research results within the last 5 years on the pharmacological effects of Licorice are systemized according to the role of Licorice on nervous, respiratory, digestive, immune, reproductive system (both male and female) and metabolism. It is predicted that Licorice (Fabaceae) will certainly continue to be the subject of manifold scientific works in the future. The effects that are being interested in the scientific community recently are: oxidation prevention, memory impairment prevention, weight loss, reproductive function improvement in obese men, immune system function enhancement in many types of cancer. In addition, previous and ongoing studies have shown that Glycyrrhizin, an active ingredient found in Licorice, is effective against Severe Acute Respiratory Syndrome Coronavirus 2 (SARS-CoV-2) because of its antiviral activity. As a result, Licorice can be considered as a future promising herbal medicine that is vital to the individual’s and communities’ health.