The present disclosure envisages a system and method for management of medical prescriptions, and particularly management of medical prescription refills. The present disclosure envisages a centralized system termed ‘RxRefillHub’ that receives and analyzes the medical prescriptions, and releases only one refill for each of the medical prescriptions at a time. The RxRefillHub also provides healthcare providers and patients with seamless access to the medical prescriptions thereby providing for easy modification of the medical prescriptions at any point of time post generation. The RxRefillHub provides ready access to all the information corresponding to the medical prescriptions generated for a specific patient, current refill status, medication history and details of the prescribing physician. The RxRefillHub also generates alerts when a term associated with a refill is nearing termination.