Melanins are polyphenolic compounds distributed in most life forms which basically involve in the protection of the organism. Its UV absorptive property enables the organism to escape from the UV mediated cell damage. While for organism like bacteria, melanin helps them to escape from the host immune system as the pigment have good antioxidant activity which enables them to escape from the ROS mediated immune responses inside the host organism. Though to the host it is a negative aspect, the production of melanin increases the virulence of the pathogenic organism. Apart from all these functions, melanins are considered to be an important component in human body. They play crucial role in energy transmission in tissues and organs like skin, retina, inner ear and nervous system. Disturbances in melanin metabolism can lead to Parkinson’s disease, senile macular degeneration and senile deafness. Melanin metabolism is shown to be altered in Alzheimer’s as well as Down syndrome patients. So apart from its protective role melanin plays an important role in maintaining human health. Melanins commercially available can be of two forms, synthetic as well as biological. Both have somewhat similar properties and either can be utilized in melanin-based experiments and products. Biological melanin is usually extracted and purified from ink sacs of Sepia as well as produced by microorganisms like bacteria and fungi. This commercial melanins are usually utilized for its cosmetological applications as it can enhance sun protective factor in sun protective creams and lotions. Its effectiveness in being as a component in electronics like solar cell and batteries to drug delivery and anti-cancer activity has been proved in the laboratory level and not yet been commercialized. So, the melanin still remains as a less explored compound with enormous potential due to its diverse properties.