Danshen (Salvia miltiorrhiza) is a traditional Chinese medicine (TCM) and is frequently used to treat various diseases, such as cardiovascular disease, cancers, liver disease, and nervous system disease. Recent studies have shown that Danshen and its active compounds exhibit prominent protective, anti-inflammatory, antioxidative or antiplatelet properties. The present article reviews the different aspects, such as sources, uses, bioavailability, and medical applications, of Danshen. It is a compilation of all the relevant literature available in this regard in a very concise form to make the readers understand its chemical properties, metabolism, health benefits and other effects. This includes studies that have been done thus far in relation to the therapeutic effects of Danshen in a variety of diseases, such as diabetes, neurological disorders, and even cancer. This article also provides a scientific rationale for understanding the traditional use of Danshen in various diseases.