Peppermint (Mentha piperita L.) is native to Mediterranean region which cultivated for food, pharmaceutical, and perfumery uses in all over the world. The aerial part of peppermint contains essential oil, phenolic and flavonoid compounds, fatty acids, vitamins, minerals, and salicylic acid. Menthol is the most important constituents of peppermint oil which synthesized and accumulated in glandular trichomes on the leaf surface. Menthol creates a coolness sense in the mouth due to inhibition of the TRPM8 channel in the neurons. Clinical and experimental studies have demonstrated the peppermint effect on improving upper gastrointestinal disorders, irritable bowel syndrome, muscle spasm, and respiratory problems. It also has antioxidative, anticancer, anticoagulant, anti-allergic and anti-androgenic effects. Peppermint is a valuable herb in food, pharmaceutical, and cosmetic industries which needs further phytochemical and pharmacological studies. Therefore, this article reviews the anatomical, phytochemical and pharmacological properties of this plant.