Ellagic acid, 2,3,7,8-tetrahydroxy-chromeno[5,4,3-cde]chromene-5,10-dione, is a powerful bioactive compound with many potential pharmacological and industrial applications. In this review, the chemical aspects, biological properties and diverse potential applications of ellagic acid for different industries were described. This review also discussed the advance in ellagitannin biodegradation, focusing on the process of isolation of microorganisms and strain selection, medium and culture optimization, as well as fermentation systems for commercially viable industrial scale production. The performances of various fermentation techniques that have been applied for the production of ellagic acid from residual by-products were compared, while the advantages and disadvantages of each plant source were also discussed.Key words: Ellagic acid, ellagitannin, biodegradation, fungal physiology, solid-state fermentation, submerged fermentation.