Diabetic neuropathy is a chronic complication to metabolic disorder, diabetes mellitus. Till date, diagnosis and treatment of diabetic neuropathy remain elusive with challenges associated with the efficacy and safety of the current therapeutics. Considering, the hurdles associated with discovery of de novo drugs, repurposing of old drugs for new therapeutic modalities sounds promising. This review, focuses on a molecular pathways involved in the progression of diabetic neuropathy, and the current pharmacological and non-pharmacological therapies implemented. Furthermore, a holistic and mechanism centric drug repurposing approach is pursued for identification of existing drugs as novel therapy in the treatment of diabetic neuropathy. The global status of ongoing clinical research on diabetic neuropathy is also highlighted. In conclusion, the barriers associated with drug repurposing is identified to stimulate the curiosity of the researchers to overcome them and rapidly translate the drugs to the patients suffering from diabetic neuropathy.