Agastache rugosa (Fisch. & C.A. Mey.) Kuntze (A. rugosa), a perennial aromatic herb of the Lamiaceae family, has significant medicinal and culinary value. Its complex chemical profile includes terpenoids, flavonoids, phenylpropanoids, and sterols, which contribute to diverse pharmacological activities such as anti-inflammatory, antioxidant, antibacterial, and neuroprotective effects. This article systematically reviews the chemical components, health benefits, and application status of A. rugosa, with a focus on its dual role as a medicinal and edible plant. We also highlight its potential for further research and development in pharmaceuticals, functional foods, and cosmetics. By consolidating existing knowledge and identifying emerging trends, this review aims to facilitate further scientific exploration and commercial utilization of A. rugosa, highlighting its untapped potential in integrative medicine and nutraceutical industries.