First of all, the Jaguar is not the best console of it's time. You might be better off getting a 3DO, N64, or PSX. However, if you do have this, there are some very good games for it, although the library certainly isn't as memorable as some other fifth-generation consoles.
Probably the best game on the console. First of all, this soundtrack is pure awesome.
In fact, the soundtrack was even released on its own awesome CD.
You play as a ship, fixed on the edge of a colorful "web" and you shoot incoming shit and get powerups. Very addictive.
Alien vs. Predator
Play as an Alien rescuing the Alien queen, a predator trying to kill the Alien queen, or as a marine trying to get the fuck out.
Marine campaign is by far the best, although all three of the campaigns are good.
A must-have for the Jaguar.
Basically you control a squad of soldiers, and you have to complete the objective of a mission, divided into phases.
Whoever survives the mission gets a promotion and becomes a bit better.
Missions get pretty complex and require some creative thinking later on.
Also a definite must-have for the Jag.
Simple, yet terribly addicting.
Play as a mech in first-person view. Fuck shit up.
Iron Soldier 2
Overall improvement of the first, but same basic gameplay. Graphics are way better.
Perhaps the best port of the arcade game. Great graphics, no slowdown, perfect music.
Only annoying thing is that the score panel takes up a fucking third of the screen.
Saturn, PSX, and Jag ports are nearly identical.
Great port, but, for some reason, there's no music. ?
You're in a space ship and you shoot stuff. HUD covers most of the screen, which is annoying, but great fun otherwise.
From the same dudes behind AvP.
One of the few awesome racing games on the Jag. Great sense of speed.
It's pinball. If you like pinball, you'll like this. You might want to put it on mute, though.