Abstract: Natural polysaccharide-polyphenol conjugates are compounds formed by the coupling of polysaccharides and polyphenols through chemical or biochemical reactions, which have better biological activities than a single polysaccharide or polyphenol, including anti-inflammatory, antioxidant, anticoagulation, radiation protection, anti-platelet, hypoglycemic activity, etc. So they have broad application prospects in the fields of food, medicine, etc., and have become a current research hotspot. Different extraction, separation and purification methods not only have an impact on the extraction rate of natural polysaccharide-polyphenol conjugates, but also will affect the content of their composition, thereby affecting their biological activity. Due to the complex structure of natural polysaccharide-polyphenol conjugates, its structure and interaction mechanism have not yet been clearly analyzed. The research progress on the extraction, separation, purification, structural characterization, and biological activities of natural polysaccharide-polyphenol conjugates is reviewed in this paper, in order to provide new resources for the development of subsequent functional foods and theoretical references for the application of polysaccharide-polyphenol conjugates in the fields of functional food and cosmetics.