Albumin is a plasma protein that maintains the oncotic pressure of the blood. It also acts as a carrier of lipophilic biomolecules like bilirubin. Recent research highlights that serum albumin exhibits various enzymatic functions apart from the aforementioned properties. Namely, albumin possesses RNA hydrolyzing activity, enolase activity, acrylamidase activity, beta-lactamase activity, peroxidase activity, acetoacetate decarboxylase activity. There is considerable current interest regarding the pseudoesterase activity of human serum albumin, particularly in albumin estimation. However, very little is discussed in the scientific literature regarding the physiological relevance of the albumin's pseudoesterase activity (and the other enzymatic activities). In my talk, I shall focus on the issue mentioned above and discuss the role of the enzymatic function of albumin in health and diseases.