Cholesterol is an extremely important biological molecule involved in a multitude of biological processes regarded as vital for our survival. Yet, the function that has attracted more attention is its contribution to the development of atherosclerosis, a chronic inflammatory disease of blood vessels, which constitutes an underlying cause of coronary heart disease. Atherosclerosis is the principal cause of myocardial and cerebral infarction and remains the chief cause of death across many parts of the globe. Shockingly, despite its extreme physiological importance, cholesterol remains the most controversial nutrient ever. Misconception continues to exist not only among the people lacking knowledge in nutrition, but also among many nutrition researchers. The misconceptions surrounding cholesterol have been so pronounced and persistent that its beneficial effects are hardly heard of. Pharmaceutical companies are using this mass (cholesterolphobia) to flourish their business. However, recent studies demonstrate that cholesterol plays a minor role in cardiovascular disease. The objectives of this article are twofold. Firstly we review research articles to analyze the existing ideas regarding the link between heart diseases and cholesterol. Then we provide an up-to-date information about some health impacts of cholesterol and highlight the effects of anti-cholesterol drugs based on the researches performed to date.