Portulaca oleracea (P. oleracea) a member of the Portulacaceae family, is a small summer annual plant with many pharmacological properties. P. oleracea is commonly known as Chi-Xian in China, purslane in the USA and Qorfeh in Iran. In Iranian traditional medicine, anti-pyretic, antispasmodic, and anti-inflammatory properties have been reported for this plant. Different compounds have been identified in P. oleracea such as terpenoids, alkaloids, flavonoids, vitamins and minerals. Also, the plant is rich in omega-3 polyunsaturated fatty acids. Although P. oleracea has many pharmacological effects, including antitumor, antidiabetic, lung-protective, neuroprotective, wound healing, skeletal muscle relaxant, anti-thyroid, anti-inflammatory, antihyperlipidemic, hepato-protective, antiviral, antibacterial, antiparasitic, gastroprotective, immunomodulatory, anti-diabetic, and antibacterial properties, to date, no summary has been conducted of studied about the phytochemical and pharmacological properties of P. oleracea. The present review highlights an up-to-date finding of the phytochemical and pharmacological properties for P. oleracea and the beneficial role of this plant in treatment of diseases.