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Colocasia esculenta belongs to family Araceae and is popularly known as “Taro”. This plant has been cultivated widely from ancient times in the tropical and subtropical latitudinal band around the world. The herb has been known since ancient times for its curative properties and has been utilized for treatment of various ailments such as asthma, arthritis, diarrhea, internal hemorrhage, neurological disorders, and skin disorders. However knowledge about cytotoxicity is lacking hence, cytotoxic study of Colocasia esculenta leaves and tuber was carried out. Particular attention has been given to antimicrobial and antioxidant study of tuber and leaves as well as cytotoxic effect in order to evaluate the potential use of this plant in pharmaceuticals. As bone cancer is emerging as aggressive form of cancer, anticancer study was done on osteocarcoma cell line (MG63) of human. A wide range of phytochemical compounds including flavonoids, β-sitosterol, and steroids have been identified by phytochemical and analytical study. Extracts from this plant have been found to possess various pharmacological activities.