Cyanobacteria are photosynthetic algae with outstanding endeavor to inhabit diverse habitats and are crowned with special metabolic acumen. Their morphological diversity is vivid and their ecological roles are magnificent and vital in nature ranging from nitrogen cycle to carbon dioxide mitigation. Their applications are now extensively explored and many novel compounds have been reported. The pigments, vitamins, lipids, proteins, polyketides, antioxidative enzymes, polysaccharides etc. derived from cyanobacteria are envisaged worldwide. Their diligent acumen makes them ideal tiny microbial factories for nutraceuticals, biofuels, cosmetics, pharmaceuticals, wastewater remediation and many more. Further investigations can aid in elucidating more cyanobacterial secondary metabolites and innovative approaches towards their wider applicability in plethora of avenues as sustainable reservoirs.