German chamomile (Matricaria chamomilla L.) is among the most widely used medicinal plants with well-documented anti-inflammatory activity. This review article, for the first time, provides a comprehensive and systematized analysis of current data on the pharmacological and anti-inflammatory properties of German chamomile from the perspective of the relationship between its chemical composition and the molecular mechanisms of inflammation. It is demonstrated that flavonoids, sesquiterpene compounds, and phenolic acids of the plant are capable of modulating the activity of pro-inflammatory mediators, inflammatory enzyme systems, and oxidative stress. Special attention is given to studies conducted by Uzbek researchers, which form the scientific and raw material basis for the development of phytopharmaceuticals based on German chamomile. The results of this review may be used for the standardization of medicinal plant raw materials and the development of anti-inflammatory phytomedicines.