Jasmonates (JAs), the derivatives of lipids, act as vital signaling compounds in diverse plant stress responses and development. JAs are known to mediate defense responses against herbivores, necrotrophic pathogens, nematodes and other micro-organism besides alleviating abiotic stresses including UV-stress, osmotic stress, salt stress, cold stress, temperature stress, heavy metal stress, ozone stress etc. Jasmonate signaling does not work alone while mediating defense responses in plants but it functions in multifarious crosstalk network with other phytohormone signaling pathways such as auxin, gibberellic acid (GA), and salicylic acid. The present review gives the holistic approach about the role of jasmonates in counteracting the stress whether biotic or abiotic. Jasmonates regulate beneficial plant–microbe interactions, such as interactions with plant growth promoting rhizobacteria (PGPR) and arbuscular mycorrhizal fungi.