The current outbreak of the novel coronavirus disease known as COVID-19 caused by the newly identified coronavirus strain SARS-CoV-2 has become a prominent health problem worldwide. Therefore, there is an urgent requirement to uncover the specified preventive measures to control the spread of the disease. Different therapeutic approaches such as administration of corticosteroids, vitamins, trace elements, immune enhancers and convalescent plasma recovery can be good alternatives, but the current emergent situation demands specified treatment. The development of vaccines will require longer durations; therefore, deployment of existing drugs as a repurposing approach remains a great option to combat this pathogenic virus. WHO includes different categories of drug treatment options such as antivirals, antimalarial, antiparasitic, antifungal anti-inflammatory, immunosuppressants, inhibitors of kinase and protease monoclonal antibodies immunomodulators, ACE inhibitors and others. Antiviral drugs such as remdesivir, lopinavir/ritonavir, favipiravir, umifenovir and antimalarial drugs such as chloroquine/hydroxychloroquine, and several combinations of these drugs are being utilized in different clinical trials and have shown efficacy in the treatment of COVID-19. We have reviewed a general outline about these drugs in the present chapter along with the strategies that may be deployed in the identification of further antiviral agents. However, the side effects associated with their administration and their minimal and maximum dosage norms require special attention. Therefore, the safety and efficacy criteria for the available drugs need confirmation via further clinical trials.