Kiwi fruit (Actinidia deliciosa) belongs to the family Actinidiaceae and genus Actinidia. It is one of the most commercialized fruits on the international front and is loaded with many nutrients such as vitamins, minerals, and phytochemicals, and its parts are well recognized for their medicinal and therapeutic properties against diseases associated with the cardiovascular system, diabetes, kidney problems, cancer, digestive disorders, bone, and eye problems. Being a significant source of phytochemicals including caffeic acid, gallic acid, syringic acid, salicylic acid, ferulic acid, and protocatechuic acid; it contributes to the major flavonoid and phenolic contents of kiwi fruit. Kiwi fruit and its components are known to exhibit numerous pharmacological properties include antidiabetic, anti‐tumor, anti‐inflammatory, anti‐ulcer, antioxidant activity, hypoglycemic, hypolipidemic effects, and many more. Besides these, kiwi fruit also finds its traditional application in the effective treatment of edema, hepatitis, kidney problems, rheumatoid arthralgia, and microbial infections. The fiber present in kiwi fruit favors its water retention capacity which further aids in decreasing the transit time and maintains gastrointestinal health of the individual. Investigations are also being done on the insulin and glucose balance, weight maintenance, and homeostatic balance to kiwi fruit consumption. The present review chiefly aims to establish a better understanding of the nutritional composition, pharmacological properties, health benefits, traditional utilization, and commercialization of kiwi, which helps us to provide scientific evidence‐based recommendations to the consumers. Novelty impact statement Kiwi is a potent source of vitamins like vitamin A, B, C, E, and K and notably appreciable levels of dietary fiber, vitamins, minerals and various phytochemicals such as carotenoids, flavonoids, anthocyanins, and lutein which contribute to the rich pharmacological profile of kiwi. It exhibits strong antimicrobial, antiviral efficacy and immunomodulatory effect owing to the presence of bioactive constituents in kiwi fruit. Further extensive research is still required in this field to attract the food industrialists for the value‐addition and development of kiwi‐based food products.