Boswellia serrata Roxb is commonly known as Kundur in Unani system of Medicine. Kundur is stem exudation, botanically known as Boswellia serrata Roxb. One of the main constituents of Boswellia serrata Roxb is Boswellic acid. It is also known as “Indian Frankincense” in English and “Shallaki” in Ayurveda. Oleo resin gum is used in medicine, perfume, air fresheners and for incense. It is used as a thickener in paints and varnishes. Its timber is used as cheap furniture, mica boxes, packing cases, matchbox, plywood, and veneers. Pharmacological activities of kundur includes Qabiz (astringent), Mujjaffife wa mundammile quruh (siccative to the ulcer), Dafe taffun (antiseptic), Habisuddam (haemostatic), Mundammile qarha chashm (cicatrizant to corneal ulcer), Muqawwie zehan wa hifz (memory tonic), Mujaffife balgham (siccative to the secretion of phlegm), Mujaffife rutubate dimagh (siccative to the secretion of brain), Mumbite laham (healing action) etc. This review paper highlights a summary of phytochemistry and pharmacological effects of this plant.