Myristica fragrans is commonly named nutmeg or mace belongs to family Myristicaceae. It is an aromatic evergreen tree with spreading branches and a yellow fleshy fruit similar in appearance to an apricot or peach. Myristica fragrans essential oil has antimicrobial, antiseptic, antiparasitic, anti-inflammatory, and antioxidant properties. We have recently demonstrated that hydrodistillation of nutmeg essential oil by applying magnesium aluminometasilicate as an excipient significantly increases both the content and amount of bioactive substances in the oil and hydrolats. In this study, we aimed to compare the antioxidant, antimicrobial, and anti-inflammatory activity of hydrolats and essential oil obtained by hydrodistillation in the presence and absence of magnesium aluminometasilicate as an excipient. Caribbean islands of Grenada and Trinidad are also influential in growing this aromatic tree commercially. It belongs to Myristicaceae family and is the source of two spices, nutmeg (Jaiphal) and mace (Javitri). Nutmeg is the seed kernel inside the fruit and mace is the fleshy red, net-like skin covering (aril) on the kernel. Further, studies divulge the occurrence of different chemical constituents like Myristicin, Macelignan and Eugenol (4-allyl-2-methoxyphenol). Nutmeg possesses various pharmacological activities like hepato protective activity, anti-oxidant activity, memory enhancing activity, cytotoxicity, aphrodisiac activity, anti-diabetic activity, anti-depressant activity, hypolipidemic and hypocholesterolemic effect, anti-microbial activity, antibacterial, anti-inflammatory, anti-carcinogenic activity, flavouring properties and pesticidal activity. This article reviews various pharmacological properties of this medicinal plant.