Raspberries (Rubus idaeus) possess a wide phenolic family profile; this serves the role of self-protection for the plant. Interest in these compounds have significantly increased, since they have been classified as nutraceuticals due to the positive health effects provided to consumers. Extensive chemical, in vitro and in vivo studies have been performed to prove and validate these benefits and their possible applications as an aid when treating several chronic degenerative diseases, characterized by oxidative stress and an inflammatory response. While many diseases could be co-adjuvanted by the intake of these phenolic compounds, this review will mainly discuss their effects on cancer. Anthocyanins and ellagitannins are known to provide a major antioxidant capacity in raspberries. The aim of this review is to summarize the current knowledge concerning the phenolic compound family of raspberries, and topics discussed include their characterization, biosynthesis, bioavailability, cytotoxicity, antioxidant and anti-inflammatory activities.