Abstract: Potentilla anserina (PA) is a unique medicinal and edible resource from Tibetan plateau in China, which possesses the efficacies of tonifying Qi and blood, strengthening the spleen and stomach. Modern phytochemical studies shows that PA contains a variety of chemical components, including polysaccharides, triterpenes, flavonoids, alkaloids, phenolic acids and lignans, with cardiovascular protective, hematopoietic, hepatoprotective, hypoglycemic, immunoregulatory, osteoprotective, antimicrobial and antiviral effects. PA has been used in food applications as an important raw material for the development of beverages, bakery products, engineered rice and nutraceuticals. The review summarizes systematically the current research status of the extraction and preparation process, health benefits and food applications of the active components of PA, and points out the existing problems and research directions, which provides certain reference for the in-depth excavation of edible properties and high-value exploitation and utilization of PA.