Centella asiatica (L.) Urban (Apiaceae), commonly known as "Gotu kola", is a tropical medicinal plant native to India, Sri Lanka, Madagascar, South Africa, Indonesia, and Malaysia. It has been widely used in Ayurvedic medicine for different purposes including leprosy, psoriasis, wound healing, eczema, and memory enhancement. The plant has been also reported to possess a potent antioxidant effect. Gotu kola is recorded in the European Pharmacopeia, German Commission E and World Health Organization monographs and its preparations are proven to be used in wound and burn healing as well as some other skin diseases for its antiproliferative and scatrizan effects. Gotu kola extract is standardized by its major triterpene saponosides; madecassic and asiatic acids and their glycosides. Wound healing activity of the plant has been attributed to mainly asiaticoside; the glycosydic form of asiatic acid. In this review, general information will be given about botanical properties, distribution, phytochemical constituents, and pharmacological activities as well as pharmacoparameters such as dosage, contraindications, adverse effects, and preparations of C. asiatica.