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Being an aquatic weed which is growing dense and widespread across many lakes and water bodies, it is of paramount importance to utilize Eichhornia crassipes (commonly known as water hyasinth) for the benefit of the mankind, especially for its value added and medical properties, such as bio-fuel, biogas, bioremediation and therapeutics. Many of the bird sanctuaries and water-bodies have been drastically invaded by this aquatic weed which is really affecting ecological niche and bird migrations. Several researchers have successfully demonstrated the use of water hyacinth in the bio-remediation and as a potential source of renewable energy. Different heavy and toxic metals showing biomagnifications and therefore creating health hazards, could be remediated by using water hyasinth. The process of decontaminating agro-industrial waste polluted with heavy metals, organic and inorganic pollutants could possibly be done using water hyasinth. Current review focuses towards the efforts to utilize this weed for different value added and therapeutic properties. Furthermore, the article emphasizes upon the need to gain more insight into the mechanism with concrete randomized controlled studies to find out the effects of this weed on human health and a sustainable solution to exploit and manage this invasive otherwise harmful weed into a beneficial entity for the mankind.