Jojoba (Simmondsia chinensis) widely known as goat nut or wild hazel is a desert plant native to Central and North America. The plant is commercially cultivated in many countries for its medicinal, pharmaceutical, as well as industrial importance. The plant is known for its medicinal value, and it has been used by Native Americans to treat many diseases. This chapter aims to provide an updated overview of the traditional application and medicinal, pharmaceutical and health-related applications of this plant. Pharmacological research has shown noteworthy effect of different extracts and/or isolated compounds as antioxidant, anti-inflammatory, anti-ageing and anticancer agents. Additional studies are essential to analyse important traditional uses, as well as to discover more bioactive molecules with medicinal/pharmacological significance based on the common claims. More toxicological research associated with phytochemical analysis is vital for more understanding of the eventual toxic effects of some compound such as simmondsin that might affect plant medicinal/pharmaceutical values.