Ilex guayusa is an emblematic tree of the Ecuadorian Amazon region, widely used in folk medicine, ritual uses and household and industrial beverages. Despite the daily consumption only a few number of studies have been carried out and the species deserves a deepener bioprospecting activity, also in order to define a new Biotrade strategy for the Ecuadorian amazon region. This review summarizes the ethno pharmacological data and the researches concerning I.guayusa. Promising biological activities have been detected, especially as new source of antioxidant agents due to the presence of phenolic compounds. Also a preliminary study as antidiabetic natural product accounts for new researches.