The incidence of diabetes mellitus (DM) is increasing worldwide. One of the main complications in DM is delayed wound healing which often requires amputation. Various drugs have been used to treat DM but they present with various complications and patients often do not comply with such treatment. This opens the door for complementary and alternative medicine. In the present review, we explore the molecular concept of wound healing occurring in different stages with special emphasis to DM. We also highlight potential herbal products such as NF3 (Chinese 2-Herb Formula), Zicao, Jing Wan Hong ointment, mixture of Adiantum capillus-veneris, Commiphora molmol, Aloe Vera, and henna, Aleo vera, Phenol-rich compound sweet gel, Jinchuang ointment, San-huang-sheng-fu (S) oil, Yi Bu A Jie extract, Astragali Radix (AR) and Rehmanniae Radix (RR), Yiqi Huayu, Tangzu yuyang ointment, Shengji Huayu recipe, Angelica sinensis, Lithospermun erythrorhison, Hippophae rhamnoides L., Curcuma longa, and Momordica charantia that could be effectively used to treat DM wounds. Future clinical trials are needed for designing potential drugs which may be effective in treating DM wounds.