Abstract: To promote the development and utilization of β-conglycinin (7S) in the food industry, this study employed β-conglycinin and Auricularia auricula polysaccharide (AAP) as raw materials to prepare 7S-AAP non-covalent and covalent complexes via physical mixing and glycosylation reactions. The generation of 7S-AAP non-covalent/covalent complexes was verified by sodium dodecyl sulfate-polyacrylamide gel electrophoresis (SDS-PAGE) and Fourier transform infrared spectroscopy (FT-IR). Furthermore, the physicochemical properties of the 7S-AAP non-covalent and covalent complexes were evaluated by assessing their solubility, surface hydrophobicity, emulsifying capacity, foaming capacity, and antioxidant activity. Results demonstrated that there was no significant difference in molecular composition between the 7S-AAP non-covalent complex and the native 7S protein. In contrast, the covalent complex formed a soluble macromolecular structure through the reaction of carbonyl and amino groups, confirming the occurrence of glycosylation and the successful synthesis of 7S-AAP non-covalent and covalent complexes. When the AAP concentration was 1%, the 7S-AAP covalent complex had the highest solubility (69.26%±2.98%), foaming capacity (149.00%±5.57%), foam stability (88.06%±2.59%), emulsifying activity (81.05±1.00 m²/g), emulsifying stability (64.53±0.50 min), DPPH radical scavenging rate (45.83%±1.99%), and ABTS⁺ radical scavenging rate (50.77%±1.44%). Compared with the 7S group, the surface hydrophobicity of the 7S-AAP covalent complex was significantly reduced (P<0.05). This study revealed that the physicochemical properties of 7S-AAP complexes improved with increasing AAP concentration, and the covalent complex outperformed the non-covalent complex in terms of functional properties. These findings provide theoretical support for the processing of 7S protein and the application of protein-polysaccharide systems in the food industry.