Fruits and vegetables are emerging fast as most economical and nutritious global foods. They were declared as healthy foods of the millennium and also described as nutraceutical foods of the century, owing to their health benefits. Ipomoea aquatica Forsk., a commonly grown green leafy vegetable is a rich source of vitamins, minerals, proteins, fibers, carotenes and flavonoids with many health benefits. It grows as a common weed in lakes and fresh water ponds but it is usually neglected because of lack of complete knowledge about this green leafy vegetable. This study describes useful information about I. aquatica, current research carried out so far and some of the medicinal properties identified and explored. This plant can be used as a natural source and as a nutraceutical substitute or as a functional food.