Alstonia scholaris, commonly known as devil's tree, is an important medicinal plant in the various folk and traditional systems of medicine in Asia, Australia, and Africa. The plant is used in Ayurvedic, Unani, and Siddha types of alternative medicinal systems. The decoction, mostly prepared from the bark, is used to treat a variety of diseases, of which the most important is malaria. In Ayurveda, it is used as a bitter and as an astringent herb for treating skin disorders, malarial fever, urticaria, chronic dysentery, diarrhea, and in snake bite. A. scholaris is also observed to possess antioxidant, immunomodulatory effects, and free radical scavenging, anti-inflammatory, antimutagenic, anticancer, analgesic, hepatoprotective, wound healing, antidiarrheal, and antiplasmodial activities. The current review summarizes the numerous ethnobotanical and traditional uses as well as the phytochemical and pharmacological report on A. scholaris.