This review clarified the nutritional value of Phyllanthus emblica Linn. (PE) and summarized its application prospect as a health food which show anti-aging effects. This review highlighted the latest researches of PE to describe its anti-aging mechanism and related diseases induced by oxidative stress, as well as existing problems and future application directions. In general, PE is a fruit widely consumed in south of Asia, as well as one of the three medicinal plants been selected by the World Health Organization (WHO) for widespread cultivation. Polyphenols (including phenolics, flavonoid, tannins, etc.) are the main bioactive components in PE. Those bioactive compounds show anti-aging effects through scavenging free radicals, preventing mitochondrial damage, anti-triggering lipid peroxidation, and protecting protein structures. The development and research of nutritional foods derived from PE are limited, with most efforts focused on edible fruits and juice beverages. However, there is still significant potential for further high-value utilization of its nutritional properties focus on PE.