Abstract: Ascorbyl palmitate (AP) is also known as vitamin C ester or vitamin C palmitate, which has been used as a new liposoluble antioxidant in food areas such as edible oils and infant formula. This paper reviews the current bottlenecks of chemical methods via direct esterification, transesterification, and acyl chloride approach to synthesis ascorbyl palmitate, thus emphasizing the benefits and prospects of enzymatic synthesis of AP. Besides, the regulating mechanisms of antioxidant, and anti-tumor effects of AP, as well as its potential applicability in food, healthcare and cosmetic arear are discussed. Hence, this review paper provides a theoretical basis for the healthy functions of ascorbyl palmitate, and gives scientific insights into its sustainable preparation and large-scale production in future.