This mini review focuses on the ethnopharmacology, phytochemical, and biological/pharmacological activity and toxicology of the medicinal plant, Bauhinia forficata reported during 2012–2016. The results confirmed the continuous use of this plant, especially the leaves, for medicinal purposes, particularly as remedies for the treatment of diabetes and other ailments. Other new biological potential was evidenced, including anti-ulcerogenic, hypocholesterolemic, hepatoprotective and diuretic effects. Clinical and toxicological studies have advanced gradually, requiring more detailed experiments, to ensure the safe use of this plant for medication. Some new flavonoids were detected in this species, but significant differences were observed when comparing the chemical composition of its sub-species.