Mashi is a black colored powder formulation obtained after combustion of the plant or animal drug. It is prepared by bahirdhum padhati (outside) or anterdhum padhati (in the close vessel). In this dosage form, bulk of raw material is reduced to a greater extent by the application of a certain quantum of energy. Due to this treatment, hidden chemical constituents become prominent and/or a new chemical moiety is formed which is therapeutically active. This formulation is cost-effective and easy to prepare. This review article aims to highlight the different mashi formulations mentioned in Ayurvedic text and also incorporate the formulation not mentioned in the Ayurvedic text but used by Ayurvedic practitioners. The objective was to introduce researchers to the simple yet excellent formulation mashi which should be studied in detail to establish its identity, purity, and therapeutic activity. © 2021 The Authors