Present article explains insect toxins, its immune allergic, pharmaceutical and therapeutic effects. Insect venom glands generate enzymatic and non-enzymatic toxins and are inflicted by the stings. Insect’s envenomation are highly painful, inflamed and life-threatening. It causes breathing difficulties, bronchospasm, hypotension and arrhythmia, cardiopulmonary problems, and imposes allergic reactions. Wasp venom toxins generate strong T-cell responses in hypersensitivity patients and stimulate the production of IgE antibody molecules. Massive envenomations causes the death of victims due to the toxic effects of the venom toxins if clinical treatment is delayed. This article also emphasizes the role of natural and recombinant toxins for the development of highly sensitive immune-assays for diagnosis of allergen-specific tolerance, its early and delayed effects in patients to avoid fatal anaphylactic reactions. It also directs about the essentiality of immune diagnostics, vaccines and antiserum therapy in high population density regions where incidences of wasp and bee envenomations are more frequently occur. Venom immunotherapy can restore normal immunity against venom allergens and may also provide lifetime tolerance against venoms. This article highlights the major effects of insect venom allergens, its diagnosis and venom immunotherapy.