In this paper, lots of low molecular weight polysaccharides were reviewed. The advances of the extraction, purification, biological activity and structural changes of low molecular weight polysaccharides were detailed. And future research directions were outlooked, the article noted that future research should focus on the microscopic mechanism and establish appropriate physical and mathematical models. Low molecular weight polysaccharide can be applied to the new injection agent aspects of clinical anti-tumor and lowering blood pressure.