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In this review, we focus on the chemicals used in the current treatment of type 2 diabetes and discuss some potentially viable, promising targets in the management of this metabolic syndrome, with a special mention to some naturally occurring bioactive compounds. Non-insulin dependent diabetes mellitus (NIDDM or Type 2 diabetes) is a prevalent, chronic metabolic disorder, which affects more than 171 million people worldwide. Diminished insulin secretion due to impaired β-cell function and/or insulin resistance of the peripheral tissues such as liver, adipose tissue and skeletal muscle causes hyperglycemia, which is controlled with suitable pharmacological agents. The current line of treatment includes: (1) insulin secretagogues, (2) insulin sensitizers, (3) dipeptidyl peptidase-IV inhibitors, (4) biguanides, (5) α-glucosidase inhibitors and (6) drugs in development.