Dracaena liberica, an ornamental plant found in various African and Asian countries, has a long history of traditional medicinal use. This article aims to offer an overview of D. liberica based on its taxonomic characteristics, distribution, habitat, and traditional medicinal applications, while also conducting literature review for its therapeutic potential in terms of antioxidant, antibacterial, anticancer, and antitoxicity properties. The platform used for this article’s literature review focuses on materials relating to plants of the Genus Dracaena and the species D. liberica. Furthermore, the article discusses the active compounds that have been identified in previous studies, such as phytol, stigmasterol, linoleic acid, oleic acid, stearic acid, palmitic acid, β-sitosterol, and β-stigmasterol. This review article suggests that this plant has the potential to exhibit antioxidant, anticancer, antimicrobial, and antitoxic activities. Antitoxic and anticancer activities are more promising than antimicrobial and antioxidant activities. Recent research has highlighted the roots and leaves of D. liberica as particularly promising sources of anticancer and antitoxicity agents. Consequently, D. liberica holds great potential for the development of natural medicines