Coffee beverage is one of the most popular beverages worldwide and because of its proved health benefits, it may be regarded as functional food. The potential functional properties of coffee beverage have been associated with its bioactive compounds including caffeine, chlorogenic acids, and melanoidins which are Maillard reaction products. The extraction of coffee soluble from the roasted and ground coffee seed is a complex operation and brewing/cooking method plays an important role on the extraction and amount of the key compounds in the coffee beverage. This review provides how the roasting level and brewing techniques affect the key compounds, physicochemical attributes, and health of coffee beverage. The role of compounds caffeine, chlorogenic acids, melanoidins and the diterpenes cafestol and kahweol in the body are reviewed along with their impact on health by examining the results of the studies involving the coffee consumption. According to the reviewed studies daily intake of 2 to 3 cups of coffee beverage is safe and may support metabolic health, mental health, enhance mood, increase alertness, be effective against hypertension, help us to fight depression, prevent several chronical disease risks including type 2 diabetes, Alzheimer’s and Parkinson’s diseases and degenerative diseases, such as cancer like liver cancer, cardiovascular disorders. However, some data implies the negative effects on health that it may be cautious for pregnant women and need to limit coffee consumption no more than 300 mg/d of caffeine.