Chalcones represent key structural motif in the plethora of biologically active molecules including synthetic and natural products. Synthetic manipulations of chalcones or their isolation from natural sources are being investigated worldwide for the development of more potent and efficient drugs for the treatment of several dreadful diseases such as cancer, diabetes, HIV, tuberculosis, malaria etc. Over the past few years, a large volume of research papers and review articles highlighting the significance of chalcone derivatives has been compiled in the literature. The present review article focuses on the recent developments (2010–2014) on various pharmacological and medicinal aspects of chalcones and their analogues.