Nitrogen-containing heterocycles have been desirable targets for synthesis for many years because of their structural diversity and biological significance. Five-membered heterocyclic rings, or pyrazole, are a flexible starting point for the design of effective bioactive compounds and are widely used in medicinal chemistry, drug discovery, agrochemistry, coordination chemistry, and organometallic chemistry. Pyrazole derivatives have played an important role in heterocyclic chemistry and have been extensively studied owing to their ease of access, diversified chemical reactivity, and broad biological properties, including antibacterial, anti-inflammatory, anticancer, analgesic, anticonvulsant, anthelmintic, antioxidant, and herbicidal properties. Pyrazole nuclei are synthesized via a variety of methods, including the multicomponent approach, dipolar cycloaddition, cyclocondensation of hydrazine with a carbonyl system, heterocyclic system, and multicomponent approach. The current review is an attempt to understand the chemistry and medicinal importance of the pyrazole-containing marketed drugs reported to date, which will undoubtedly assist the scientific community in making further advances in the isolation and synthesis of pyrazole-based novel bioactive compounds.