Abstract: 2-Oxazolin-5-Ones(azlactones) are multifunctional compounds and are known to react at C=C,C=N,C=O bonds. These participate in a number of replacement reactions, cycloadditions, other type of reactions as well as dimerisation react ions leading to formation of a variety of heterocyclic compounds. This review attempts to present the prolific development in recent years exclusively in the chemistry of 2-Oxazolin-5-Ones and gives a critical and unified account of these in the heterocyclic Chemistry.