Alpha linolenic acid, lignan secoisolariciresinol diglucoside, lignan secoisolariciresinol diglucoside, and fibre are all abundant in flaxseed. Through their anti-inflammatory action, anti-oxidative capability, and lipid regulating capabilities, these chemicals provide bioactivity beneficial to the health of both humans and animals. This article discusses the properties of consuming flaxseed or its bioactive ingredients. This review also covers the advantages of giving flaxseed or the specific bioactive components on health and disease. The benefits and drawbacks of dietary flaxseed in relation to various cardiovascular illnesses, cancer, gastrointestinal health, brain development and function, as well as menopausal women's hormonal status, are all comprehensive issues for discussion. Phytochemicals are currently gaining popularity as bioactive dietary components. As consumers become more health concerned, functional foods are becoming a more attractive area of study in food science. Flaxseed is grown around the world for its fibre, oil, medicinal properties, and nutritional value. In this overview, flaxseed's lignans, dietary fibre, and essential fatty acids are examined along with their nutrients, anti-nutrients, functional characteristics, digestion, metabolism, and health effects.