Endophytic fungi are a taxonomically and ecologically heterogenous group of organisms; mainly belong to ascomycetes, coelomycetes and hypomycetes. The abundance of endophytic fungi in tropical regions has been studied. However, scant attentions have been given to medicinal plants of tropics. Synthesis of Indole acetic acid and metabolites showing antiviral, volatile metabolites, anticancer agents, anti-oxidants, insecticidal activities, antidiabetic and immunosuppressive compounds are widespread among the endophytic fungi. Now, more concentration has been given to the chemistry and bioactive compounds of endophytic fungi, mycodiversity and their ecological role. This review deals with the brief survey of the endophytic fungi of some medicinal hosts and their bioactive compounds characterized.