Camellia petelotii (Merr.) Sealy (Jinhuacha, JHC) is a rare plant species native to Guangxi, China, and northern Vietnam, renowned for its significant ornamental, nutritional, and medicinal properties. To date, 177 chemical constituents have been isolated and identified from JHC, including Flavonoids, Terpenoids, Steroids, Phenylpropanoids, Essential oils, Alkaloids, and Organic acids. Among these, Quercetin, Kaempferol, Luteolin, Catechin, Oleanolic acid, and Camelliaside A are the primary bioactive compounds. The JHC exhibits diverse pharmacological activities, including hypolipidemic and hypoglycemic effects, anti-inflammatory, antioxidant, antibacterial, antidepressant, and antitumor properties. Studies have demonstrated that extracts of JHC effectively inhibit pancreatic lipase (PL) and cholesterol esterase (CEase), with median inhibitory concentrations (IC50) values of 320 μg/mL and 200 μg/mL, respectively. Additionally, the extracts show strong free radical scavenging activity, with 2,2-Diphenyl-1-picrylhydrazyl (DPPH) and 2,2′-azino-bis(3-ethylbenzothiazoline-6-sulfonic acid) (ABTS) radical clearance rates reaching 84.61% and 95.51%, respectively. Clinical applications indicate that JHC Hypoglycemic Capsules achieve a total effective rate of 93.33% in the adjunctive treatment of patients with type 2 diabetes. Nevertheless, the quality control markers and the precise mechanisms underlying certain pharmacological effects of JHC remain to be fully elucidated. This paper systematically reviews current advances in the study of the chemical constituents and pharmacological effects of JHC, and further proposes future research directions, aiming to provide a scientific foundation for the in-depth investigation of its active constituents and mechanisms of action.