Saposhnikoviae Radix, the dry root of Saposhnikovia divaricatee (Turcz.) Schischk, is a traditional chinese medicine used for the treatment of cold, headache, and skin pruritus.This study aimed to identify novel active polysaccharides from Saposhnikovia divaricatee (Turcz.) Schischk and clarify their structures and bioactivities.The structure of polysaccharides was clarified by PMP-HPLC, methylation analysis, particle acid hydrolysis analysis and NMR analysis. The anti-allergic and antioxidant activities of polysaccharides were evaluated on allergic reaction model in RBL-2H3 cells and oxidative damage model of C. elegans.We purified a novel homogenous polysaccharide named SP-3 from Saposhnikovia divaricatee (Turcz.) Schischk and its molecular weight was determined as 3.096 × 104 Da. Monosaccharide composition analysis revealed that SP-3 was composed of mannose, rhamnose, galacturonic acid, glucose, galactose, and arabinose (1.85: 5.22: 38.06: 2.36: 23.25: 29.26). The main linkage type of SP-3 was a repeat unit of →4,6)-β-D-Galp-(1 → 4)-α-D-GalpA-(1 → . The branches of SP-3 contained T-linked-α-L-Araf and 1,3,4-linked-α-L-Rhap. It was observed that SP-3 inhibited β-HEX release and inflammatory factors in RBL-2H3 cells subject to IgE stimulant. Meanwhile, SP-3 increased the mean lifespan of Caenorhabditis elegans under oxidative stress, reduced ROS content and increased antioxidant enzyme activities of C. elegans, potentially through activating the SOD-3.A novel homogenous polysaccharide was identified from Saposhnikovia divaricatee (Turcz.) Schischk, and this polysaccharide SP-3 played key roles for the anti-allergic and antioxidant activities.