Fullerene (C60), a carbon buckyball, was discovered by Harold Kroto, James R. Heath, Sean O’Brien, Robert Curl, and Richard Smalley in 1985 and fullerene (C60) was prepared in large amounts by Krätschmer and Huffman in 1990. Research on fullerenes has been taken actively. Fullerenes have been exploited in electronics as well as in medicine. To use the fullerenes for biological applications the problem of its solubility in water has been overcome by making their derivatives. Here , in we describe the antiviral activity, antioxidant activity, use of fullerenes in drug and gene delivery. Trans isomer of dendrofullerene shows the highest anti-HIV-protease activity. The antioxidant properties of fullerenes due the presence of large amount of conjugated double bonds and low lying lowest unoccupied molecular orbital have made fullerenes the world’s most efficient radical scavenger , called radical sponges . DNA-functionalized fullerenes have been used in gene delivery as they are able to enter the cells and show comparable or even better efficiency than that of commercially available lipid-based vectors. The fullerenes act as a photosensitizes. Their applications in photo cleavage and photodynamic therapy & anticancer photodynamic therapy have been described. Dimalonic derivative (DMA C60), is a very promising agent in photodynamic therapy as it is found to exerts phototoxic effect by damaging mitochondrial membrane in HeLa cells on short-time irradiation and low power. The antibacterial activity, applications of endohedrals fullerenes in MRI and applications of fullerenes in osteoporosis are also described. The use of functionalized fullerenes such as polyhydroxyfullerenes in photoacountic imaging , photothermal treatment , antitumore treatment is explained. Use of fullerene liposome for chemotherapy and cancer theranotes is described. Application of fullerenes in medical therapeutics such as allergy asthma and arthritis and its immunological activity is described. The cationic fullerenes such as N,N-dimethyl bis-fulleropyrrolidium salt series and related compounds are fund to be active against Enterococcus faecalis (Gram positive), E. coli (Gram negative) and Mycobacteria. Polyfluoro biphosphonated fullerene derivatives are being developed as bimodal drug for osteoporosis therapy. Application of radionuclides encapsulated in fullerenes is described.The lutetium nitrides–based endohedrals metallofullerenes, pure Lutetium Nitride, namely Lu3N@C80, could find application as X-ray contrast agent, due to the large cross-section of lutetium.