Brasenia schreberi is a widely consumed aquatic plant, yet the knowledge regarding its bioactive components, particularly polysaccharides, remains limited. Therefore, this study aimed to optimize the extraction process of polysaccharides from B. schreberi using the response surface method (RSM). Additionally, we characterized the polysaccharides using various methods and assessed their antioxidant capabilities both in vitro and in vivo, employing cell cultures and Caenorhabditis elegans. Furthermore, these polysaccharides were incorporated into a unique yogurt formulation. Our findings demonstrated that hot water extraction was the most suitable method for extracting polysaccharides from B. schreberi, yielding samples with high sugar content, significant antioxidant capacity, and a well-defined spatial structure. Moreover, pectinase was employed for polysaccharide digestion, achieving an enzymolysis rate of 10.02% under optimized conditions using RSM. Notably, the results indicated that these polysaccharides could protect cells from oxidative stress by reducing apoptosis. Surprisingly, at a concentration of 250 μg/mL, the polysaccharides significantly increased the survival rate of C. elegans from 31.05% to 82.3%. Further qPCR results revealed that the polysaccharides protected C. elegans by up-regulating the daf-16 gene and down-regulating mTOR and insulin pathways, demonstrating remarkable antioxidant abilities. Upon addition to the yogurt, the polysaccharides significantly enhanced the water retention, viscosity, and viability of lactic acid bacteria. These outcomes underscore the potential of polysaccharides from B. schreberi as a valuable addition to novel yogurt formulations, thereby providing additional theoretical support for the utilization of B. schreberi.