In addition to nutrients, plant foods contain compounds that may provide additional health benefits improving the quality of life. Species from Arbutus genus (Ericaceae) represent a promising source of healthy phytochemicals. Bioactive compounds including such as anthocyanins, iridoids, phenols, triterpenes, sterols, and fatty acids are reported from Arbutus species. Some Arbutus species revealed promising biological activities including antioxidant, anti-inflammatory, anti-proliferative, anti-diabetic, and antimicrobial activities, and deserve for that reason further consideration for new drug discovery. However, only few species are investigated scientifically for their chemical profile and biological activities. The aim of this article is to summarize the current knowledge of the components and biological properties of Arbutus species common in Mediterranean area, as well as the future prospects on their applications as potentially valuable products.