Indolizine derivatives own cherished biological activities and have been studied for their hypoglycemic, antimicrobial, anti-inflammatory& analgesic, anti-tumour activities. Indolizine scaffold has fascinated speculation and continuing interest and has become an important parent system for the development of potent new drug candidates. The conjugated planar electronic structure exhibits strong fluorescence properties which serve as a valuable tool for DNA interaction and spectroscopic sensitizer studies. Thus, the chemistry, synthesis and properties of this merged system and its derivatives have been frequently reviewed. In this review, the recently synthesized indolizine derivatives possessing important pharmacological activities have been highlighted.