The Himalayan yew, or Taxus baccata L. subsp. wallichiana, is a native gymnosperm of the Indian Himalayas that is endangered. This species, which is well known for producing the vital anticancer drug paclitaxel (Taxol®), is severely threatened by overexploitation, poor seed germination, and slow growth rates. Although paclitaxel can be synthesized using alternative methods and derived from a variety of Taxus species, T. baccata is under extreme environmental pressure due to the high demand for natural resources. With an emphasis on tissue culture, vegetative propagation, and seed germination, this study investigates several approaches for T. baccata conservation and propagation. Techniques like mechanical scarification, hormonal treatments, and stratification can help reduce seed dormancy, a significant barrier to regeneration. A practical method for mass multiplication is vegetative propagation through cuttings, which is facilitated by auxins and seasonal optimization. Commercial paclitaxel production has been made possible by tissue culture methods, such as callus and cell suspension cultures. Recent developments in methyl jasmonate-based elicitation have greatly increased paclitaxel yields, indicating the possibility of sustainable production. Understanding T. baccata’s growth patterns, reproduction, and resource allocation through phenological research is essential for maximizing propagation efforts and comprehending its ecological adaptations. To protect this species and guarantee its long-term use in ecological and pharmaceutical applications, integrated conservation strategies that combine conventional propagation with contemporary biotechnological techniques are essential. To reduce the threats to T. baccata and maintain its ecological and economic significance, this study emphasizes the urgent need for conservation action.