Menthol is the main component of mint volatile oil and a monoterpenoid organic compound. This article systematically summarizes the pharmacological effects， present development and application status of menthol. It is found that menthol can protect the central nervous system through acting on the transient receptor potential （TRP） channel subfamily M member 8， 5-hydroxytryptamine system， γ -aminobutyric acid system， etc. Menthol can regulate body temperature through temperature adjustment， relieving heat stress， and other means. It can play an anti-inflammatory role by regulating the production and release of inflammatory mediators such as prostaglandin E2 and leukotriene B4， and exert anti-inflammatory effects through cellular immune effect mediated by TRP channel. It can play analgesic role by activating classic pain perception targets and enhancing inhibitory synaptic transmission. It can promote transdermal absorption by destroying the stratum corneum. It can exert anti-tumor effects by regulating tumor cell proliferation， apoptosis， and adhesion pathways. Menthol can be used as a medicinal excipient for correcting the taste of drugs； it can also serve as an active ingredient and play an important pharmacological role in the treatment of disease， with potential development value.