Artemisia is the largest genus in the tribe Anthemideae having ecologically, morphologically, and chemically diverse species. These species are found mostly in the Northern hemisphere, with the distribution of fewer taxa in the Southern hemisphere of the world. Species of this genus have great therapeutic potential and constitute a remarkable natural asset and are still utilized as folk remedies against different health-related problems all over the world. The taxonomy of Artemisia has long been problematic essentially due to the morphological complexities within its species. The recent classification divides the genus into six major groups like Absinthium DC., Artemisia L., Dracunculus Besser, Pacifica, Seriphidium Besser, and Tridantatae (Rydb.) McArthur. However, its infrageneric classification is still indistinguishable. The current review comprehensively enlightens the ethnomedicinal significance and recent advancements in the taxonomy based on foliar anatomy, pollen features, morphology, and molecular phylogeny of Artemisia to understand the classification of this economically significant genus.