<p>The human placenta, a transient and necessary embryonic-maternal organ, is a promising biotherapeutic agent due to its complex bioactive components and diverse pharmacological properties. Biologically, this metabolically active organ contains enzymes, peptides, polynucleotides, cytokines, growth factors, vitamins, and trace elements that underpin its therapeutic potential. Beyond its physiological properties, human placental extract (HPE) has attracted considerable attention in early diagnostics and innovative therapy. Several studies demonstrate the anti-inflammatory, antimicrobial, antitumor, antioxidant, anti-apoptotic, analgesic, immunomodulatory, and skin-rejuvenating properties of HPE, often mediated through nuclear factor kappa B, nuclear factor erythroid 2-related factor 2, and toll-like receptor 4 pathways. The review described current knowledge on HPE, focusing on its structural, morphological, biochemical, and functional characteristics. Additionally, we highlight advantages of placental extract therapy compared to traditional cell therapies, such as cost-effectiveness, low immunogenicity, no proliferation and differentiation in the host, safe cryopreservation, low medical complications, enhanced penetration across impermeable physiological barriers, and customizable bioactivity. Recent advancements demonstrate HPE’s promise in gene therapy, immune activation, drug delivery, and early diagnosis of various diseases. However, HPE’s challenges, including method-dependent inconsistencies, variable compositions, lack of standardization and regulation, limited scientific validation, potential contamination, expensive procedures, data privacy issues, ethical and legal concerns, have restricted their therapeutic applications. This comprehensive overview highlights HPE as a promising agent for diagnosis, therapy, and prognosis across different medical fields.</p>