Medicinal aromatic plants (MAPs) are a rich and diverse source of traditional and modern medicines. Aromatic plants contain valuable essential oils that exhibit numerous biological activities. Essential oils are used in pharmaceutical production, cosmetics, and food preservation to ensure the microbiological stability of products. Plants from the Lamiaceae family, including Origanum vulgare L., are a source of raw materials with antimicrobial and antioxidant properties, and they can be utilized in the production of new drugs and other bioproducts. Oregano is an example of a plant with great potential, known for its traditional health-related and culinary applications and its growing significance in the production of medicines, cosmetics, antiseptics, and preservatives. This work aims to consolidate the current research results on the occurrence, acquisition, use, and medicinal and dietary value of common oregano and oregano essential oil. The obtained results indicate that oregano is a valuable medicinal and culinary plant, serving as a source of natural antiseptics and protective agents. Oregano essential oil, rich in thymol and carvacrol, has a number of health-promoting properties. These compounds (also present in extracts) exhibit significant antioxidant, anti-inflammatory, antiangiogenic, anticancer, and antimicrobial activities. The research findings highlight the promising role of these compounds as potential structures in the search for new antimicrobial and antibiofilm agents.