The healthcare system of major part of the world is still highly dependent on medicinal plants. Rapid dwindling of medicinal plants due to several anthropogenic and natural threats is a serious concern that must be dealt with utmost care. Several ex-situ and in-situ approaches are taken into consideration to mollify the threats of extinction of medicinally important plants and thus aid conservation. In-situ conservation approaches include construction or gazetting protected areas like sanctuaries, biosphere reserves, and natural parks along with the integration of traditional knowledge for the exploration of phytoresources. Taboos, beliefs, myths associated with forests regarding the presence of deities or ancestral spirits also play a pivotal role in preserving forest resources. Besides, biotechnological approaches like tissue culture and cryopreservation also perks up the conservation strategies. Interventions of local, regional, national or international government or non-government bodies associated with the surveillance of the status of medicinal plants, insinuation of rules, mentions rights and violation penalties also played a critical role in preserving medicinal plants and monitoring illegal trade. All these strategies support the sustainable use of medicinal plants without disturbing their natural population and also induce the reintroduction or regeneration of these plants in their natural habitat.