Abstract: Objective: To examine the structure and potential synergistic lipid-lowering effects of the complex of pomegranate peel polyphenols (PPP) and Agrocybe cylindracea polysaccharide (ACP) extracts, as well as the stability of the mixture. Methods: Based on the previous experiments, extracts of Agrocybe cylindracea polysaccharides and pomegranate peel polyphenols were obtained, subjected to quantitative analysis, and non-covalent interaction was used to generate the complexes. The adsorption capacities of the single components and their complexes on saturated fats, unsaturated fats, cholesterol, and pancreatic lipase were assessed using the Chou-Talalay combination index (CI) to determine whether synergistic lipid-lowering effects were exhibited between single components and complexes. Structural characterization and stability tests of the complexes ACP-PPP were also performed. Results: The primary contacts between the ACP-PPP complexes were revealed by spectroscopic investigations to be hydrogen bonding interactions. No additional double bonds were created during the complex building process. The complex had greater solubility and thermal stability. It was advantageous to preserve the stability of the complex under the conditions of light avoidance, low temperature, and mild acidity. The complex dissociated to varying degrees under varied parameters of light, temperature, pH, storage settings, and digesting system. When ACP was combined with PPP, the amount of saturated fat that was adsorbed was 13±0.14 g/g, the amount of unsaturated fat that was adsorbed was 8.73±0.53 g/g, the amount of cholesterol that was adsorbed was 74.8±1.23 mg/g, and at a mass concentration of 1.2 mg/mL, the inhibition rate of pancreatic lipase was 57.21%±1.32%. Following the complexation of ACP and PPP, the CI value of each assessment index was less than 1, including a good synergistic lipid-lowering ability. Conclusion: Agrocybe cylindracea polysaccharide and pomegranate peel polyphenols have good stability and synergistic hypolipidemic effect after compounding.