Heterocyclic chemistry comprises at least half of all organic chemistry research worldwide. 1,3,4 Oxadiazole heterocyclic derivatives constitute an important class of heterocyclic compounds. The chemistry of 1,3,4 Oxadiazole heterocyclic derivatives has more than centuries old history. However, the intense search for biologically active substances in 1,3,4 Oxa diazole heterocyclic derivatives began only in the last few cascades. In this present communication, an attempt is made to cover the medicinally active compounds, along with the recent synthesis, which were reported to possess antimicrobial and antifungal activity.