The present paper resulted from field studies carried out by the author in Jajpur district of Odisha for past 20 years (1990-2010). Out of over 1000 species of flowering plants and ferns recorded from the district about 530 species are of medicinal value. Twenty six species of commonly important medicinal plants have a good potential for commercial exploitation. An account of sixty two medicinal plant species, which are fast depleting in the area have been presented, which draws immediate attention for their conservation and protection. These have been enumerated with details of Sanskrit and Odia names, parts used and names of Ayurvedic preparations. Some of the medicinal plants besides many others, facing threat are Asparagus racemosus, Bacopa monnieri, Celastrus paniculatus, Centella asiatica, Cissampelos pareira, Crataeva magna, Denrophthoe falcata, Desmodium gangeticum, Eclipta prostrata, Embelia ribes, Gloriosa superba, Hedychium coronarium, Hemidesmus indicus, Operculina turpethum, Oroxylum indicum, Sphaeranthus indicus, Paederia foetida, Piper longum, Pterocarpus marsupium, Pueraria tuberosa, Plumbago indica, Rauvolfia serpentina, Saraca asoca, Strychnos potatorum, Vanda tessellata, Woodfordia fruticosa etc., which are widely used in the Ayurvedic system of medicine as well as folklores. This paper also examines possible causes of threat to these species and offer suggestions for their proper utilization and conservation.