Parthenolide is primarily known for its anti-inflammatory and anti-cancer properties, making it a compound of interest in pharmaceutical research. It has been studied for its ability to inhibit NF-κB, a protein complex involved in immune response and inflammation, which also plays a role in tumor progression. This inhibition makes parthenolide a potential candidate for treating chronic inflammatory conditions and various cancers, including leukemia and breast cancer.

It is also investigated for its effects on cancer stem cells, where it may help prevent tumor recurrence and resistance to therapy. In addition, parthenolide shows neuroprotective potential and is being explored in the context of neurodegenerative diseases such as Alzheimer's and Parkinson's due to its ability to reduce oxidative stress and inflammation in neural tissues.

Topical applications are being evaluated for skin conditions like psoriasis and eczema, where inflammation is a key component. Its natural origin and biological activity support ongoing development in drug delivery systems, including nanoparticle formulations to improve solubility and bioavailability.