Background: Pennisetum glaucum, commonly known as Pearl Millet, is a promising source of human nutrition due to its unique nutritional composition, which includes a low glycemic index, making it valuable for weight management and addressing metabolic disorders like diabetes. The following study was performed to assess the potential of ethanolic (PGE) and methanolic (PGMF) extracts from Pennisetum glaucum leaves as anti-diabetic, hypolipidemic, and antioxidant agents in a Streptozotocin (STZ)-induced diabetic rat model. Diabetic rats were orally administered PGE (at doses of 200 and 400 mg/kg body weight) and PGMF (100 and 200 mg/kg body weight) daily for three weeks. Assessments included blood glucose levels, various biochemical indicators, antioxidant enzyme levels, and histopathological changes in both the diabetic control group and treated groups. Preliminary phytochemical analysis of PGE revealed the presence of bioactive compounds, such as amino acids, saponins, phenolic compounds, phytosterols, alkaloids, flavonoids, and glycosides, with PGMF exhibiting the highest concentration of these constituents. Both PGE and PGMF displayed a dose-dependent anti-diabetic effect, as evident from the restoration of antioxidant enzyme biomarkers and correction of hematological abnormalities. Furthermore, these treatments ameliorated histopathological alterations observed in the diabetic control group. The study confirms that PGE from Pennisetum glaucum leaves possesses anti-diabetic and hypolipidemic properties while mitigating oxidative stress, underlining its potential as a functional food component for promoting health. Further research is warranted to explore its full range of benefits.