BayBay (Laurus nobilis LLaurus nobilis L.), one of the most well-known and effective fragrant and medicinal plantsMedicinal plant in Turkey, has a wide range of applications, including tincture, tea and medicine, aromatherapyAromatherapy, and the pharmaceuticalPharmaceutical industry because of its distinctive components. It is mainly widespread in Turkey, but also in countries such as GreeceGreece, Algeria, Morocco, France, Belgium, Mexico, Spain, Portugal, Libya, Romania, Albania, Syria, Crimea and the Canary Islands. Being collected from the wild and not cultivated, a standard variety of the plant has not been developed and introduced hitherto. Bay leaves are used as a fragrant flavoring and spice in foods such as fish, meat, stew, soups, casseroles, puddings, and in vinegar and some other beverages. The plant has not been handled for classical breedingBreeding studies. Instead, the plant has been widely monitored for its chemical content and composition and assayed for its biological activitiesBiological activities, especially antioxidantsAntioxidant and antimicrobials. However, it is very important to reveal the existing wealth of laurel genetic resourcesGenetic resources through studies and to use them with a focus on developing new varieties. In this regard, there are some genetic diversityGenetic diversity and molecular characterization studies conducted on laurel genotypes. Concerning its potential market, Turkey meets approximately 90% of the world’sBay bay market. For this reason, the plant deserves to be investigated and evaluated more in Turkey. Herewith in the chapter, we addressed the plant’s economic and medicinal values as well as phenomics and genomicsGenomics in detail. This information will benefit scientists concerned about the plant’s breedingBreeding and future.