Stenochlaena palustris (family Blechnaceae) is a fern species that occurs in the tropics and subtropics. They have been used as edible wild vegetables and folk medicine by the indigenous people in the Asian region. Phytochemical analyses revealed the presence of flavonoids, phenolics, tannins, saponins, gums, steroids, glycosides, terpenoids, and alkaloids in S. palustris. Nonetheless, the main secondary metabolites identified from the fern are kaempferol glycosides, fatty acids and phytosterols. Phytocompounds and solvent extracts derived from the fern were demonstrated to have antioxidant, antiglucosidase, cytotoxic, antimicrobial, anti-butyrylcholinesterase, anti-metalotoxic, antipyretic, and termiticidal activities. In nursing mothers, the juice of the fern stimulated breast milk production. The antioxidant and antimicrobial potentials of the fern also contributed to their applications in food, cosmetics, and food packaging material. Thus, current literature indicates that S. palustris is a promising source of phytochemicals with potential applications in health promotion, food, and cosmetics, which deserves future research attention. This review presents an overview of the current knowledge pertaining to the biological activities of phytocompounds and extracts of S. palustris.