Rosa roxburghii Tratt (R. roxburghii), a unique ethnic medicine native to southwest China, is classified as both medicinal and culinary, offering a multitude of health benefits. Traditionally, it is used to eliminate diet and relieve diarrhea, nourish Yin and invigorate the spleen, dispel wind and dampness, enhance immunity, and promote the healthy development of the body. Furthermore, it serves as a remedy for ailments such as scurvy, night blindness, cancer, hyperlipidemia, hyperglycemia, and hypertension. R. roxburghii contains many nutritious and active ingredients, including proteins, vitamin C, inorganic salts, essential amino acids, polysaccharides, phenols, triterpenes, organic acids, and superoxide dismutase (SOD). Among them, polysaccharides stand out as pivotal bioactive components, comprising mannose, ribose, rhamnose, glucosamine hydrochloride, glucuronic acid, galacturonic acid, glucose, galactose, arabinose, and fucose, among others. R. roxburghii polysaccharides (RTFPs) present diverse biological activities, including antioxidant, anti-fatigue, hypoglycemic, anti-tumor, immune modulation, relief from ulcerative colitis, protection of neural stem cells from glutamate damage, and improvement of intestinal micro-ecology. Due to its distinctive bioactivity, the research on RTFPs is booming. While numerous extraction and purification techniques have successfully isolated and characterized RTFPs, comprehensive understanding of their chemical structure, mechanisms, structure-activity relationships, safety profiles, and practical applications remains limited. This knowledge gap hampers their optimal utilization and development. In response, this research offers an overview of extraction, purification, structure characteristics, biological activities, structure-activity relationships, and pharmaceutical application of RTFPs. Additionally, this research not only lays a theoretical basis for the comprehensive exploration and exploitation of R. roxburghii and its polysaccharide resources but also offers extensive knowledge and insights into the development and application of RTFPs as a novel functional foods and drugs.