The present disclosure relates to pharmaceutically acceptable herbal composition effective against arthritis and gout. The disclosed herbal composition is capable of inhibiting inflammation and pain and reducing associated complications. In an aspect, the disclosed herbal composition includes 10% to 30% by weight of Asparagus filicinus herb as active ingredient along with one or more additional herbs and pharmaceutically acceptable excipients and solvents. The present disclosure further provides a process for preparing a pharmaceutically acceptable herbal composition useful in effective treatment and management of arthritis, gout and associated complications