Since its history in food science, nutraceuticals have been placed at the thin boundary separating the food substances and pharmaceuticals. There have been various developments in the research works on nutraceuticals, which revealed many of its important roles in disease prevention and control. The most popular of which is the role of nutraceuticals as an anti-aging substance by virtue of its antioxidant activity which enables it to be a potent free radical scavenger in human physiological system. The free radicals are responsible for the generation of dead cells and gradually results in aging related disease. Other role of nutraceuticals has been found as a functional food and neuroprotectant. It has been reported in various research works that nutraceuticals plays a role in prevention of Alzheimer's disease, Parkinson's disease and other sensory diseases. The nutraceuticals are still being kept under the rules and regulation of food products. The marketing of nutraceuticals does not need the efficacy of documents like that for the pharmaceutical drugs. There have been very few or negligible report for the side effects of nutraceuticals, making it as a most desirous consumable food or drug in future.