Fritillaria roylei is an endangered medicinal herb of Himalayan region. The dried bulb of the plant species contains the active constituents which are used in the preparation of Astavarga, Chyavanprash, and numerous herbal preparations to cure health ailments. The phytochemicals possess various biological activities like anti-asthmatic effects, expectorant, anti-tussive, and especially against certain respiratory diseases. Currently, various biotic and abiotic pressures have lead F. roylei to become critically endangered in Western Himalayas. To check the decline in population of this medicinal herb, appropriate protection strategies along with control measures for sustainable exploitation should be kept in consideration. In the present review, the readers will discover a brief background, classification, distribution, and morphology of F. roylei. A general account of the phytochemistry, medicinal values, pharmacological activities, and analytical techniques used for metabolic profiling for the identification of phytochemicals has also been extensively described. This study explains different mode of conservation strategies for its mass propagation which will limit its utilization from natural habitat.