Tinospora cordifolia (Gulvel) is traditionally used in ayurvedic medicine for apparently much varied conditions. It is commonly used in combination with other substances or sometimes alone. Supportive evidences from pharmacological studies suggest its prominent role in immune-modulation in conditions like diabetes mellitus, obstructive jaundice, and hepatic and splenic injury. Antioxidant, radioprotective, antihyperglycemic, antiinflammatory, antiulcer, and antispasmodic properties, and capacity to dissolve urinary calculi also have supportive evidences. It is a potential antidepressant and enhances cognition and memory. Immunemodulation, preventing oxidative damage, and relieving inflammation are likely explanations for benefits in infections, joint inflammation, and allergies. The constellation of various activities plays a role in its protective effects against antitubercular and cytotoxic drugs, and toxins. It is helpful in potentiating other substances in the form of ?Shodhan-Vidhi?. This review discusses details of its formulations, the relevance of supportive evidences and possible mechanisms of actions for its claimed benefits, and future prospects. It shows the links between ?what is believed? and ?what is known? regarding use of Tinospora cordifolia.