Beetroot (Beta vulgaris) is celebrated for its culinary versatility and abundant bioactive compounds, offering a myriad of health benefits. This review delves into its therapeutic applications, food processing, preservation methods, and emerging nanoformulation strategies. With its rich composition of minerals, amino acids, phenolic acids, flavonoids, betaxanthins, and betacyanins, beetroot stands out as a functional food with antioxidant, antibacterial, antiviral, and analgesic properties. Of particular interest are betalains and nitrates, key bioactive components in beetroot. Betalains combat oxidative stress, prevent DNA damage, and exhibit antitumor effects, while nitrates contribute to reducing blood lipids, glucose, and pressure, as well as enhancing athletic performance. These compounds showcase beetroot’s potential in combating various health conditions, from cardiovascular diseases to cancer. The uses of beetroot go beyond just eating it raw; they are widely employed in the food business as a natural food coloring and in other high-quality goods. Beetroot powder, obtained through drying methods, is highly versatile in applications such as beverages, jams, candies, and processed meats. Moreover, its leaves, containing beta-carotene and other carotenoids, provide additional nutritional benefits. Research efforts are focused on maximizing the nutritional quality of beetroot and its by-products through various extraction methods, while exploring new avenues like nanoformulations to further enhance its therapeutic potential. It will take further study to completely understand the molecular mechanisms and some diseasespecific effects of beetroot components, but doing so will open the way for more focused therapeutic usage and help realize its promise in improving human health and welfare.