Penfluridol is oral long acting depot antipsychotic introduced in 1970s. The re-emergence of the molecule in the practicing field draws attention of clinicians. The systematic search and review of literature done in order to find current perspectives of use of Penfluridol. Systematic search of prospective clinical research studies has been done. Cochrane Database review of twenty-seven studies done with a total of 1024 patients revealed that penfluridol was superior to placebo in improvement in clinical global impression and reduces the need of additional antipsychotic. Indications of penfluridol include acute psychosis, chronic schizophrenia and Tourette’s syndrome. The notable adverse effects include orthostatic hypotension, osteoporosis leading to fracture in elderly, extra pyramidal side effects and QT prolongations with arrhythmia. Most of the studies were done in 1970s and 1980s when the proper conduct of clinical trials were not established.