Tamus communis L. is a plant distributed in a number of geographical areas whose rhizome has been used for centuries as an anti-inflammatory and analgesic remedy. This review aims to summarize the current knowledge of the chemical composition and biological activity of the extracts or individual compounds of the rhizome. The data for the principal secondary metabolites are systematized: sterols, steroidal saponins, phenanthrenes, dihydrophenanthrenes, etc. Results of biological tests for anti-inflammatory action, cytotoxicity, anticholinesterase effect, and xanthine oxidase inhibition are presented. Some open questions about the therapeutic properties of the plant are also addressed.