The effects of Phellinus linteus polysaccharides (PLP) on the immune responses of laying hens remain unclear. This study systematically investigated the impacts of PLP on productive performance, antioxidant status, immune response, cecal microbiota, short-chain fatty acids (SCFAs), jejunal morphology, and metabolism in laying hens challenged with lipopolysaccharide (LPS). A total of 240 Changshun green-shell laying hens were randomly assigned to 4 treatments (6 replicates × 10 hens): CON group (basal diet), PLP group (basal diet + 4.2 g/kg PLP), LPS group (basal diet + 1 mg/kg LPS), and LPS+PLP group (basal diet + 4.2 g/kg PLP + 1 mg/kg LPS). The results demonstrated that LPS challenge significantly reduced laying rate, albumen height, Haugh unit, and yolk total amino acid contents (P < 0.05). Conversely, PLP supplementation increased laying rate, yolk weight, and total essential amino acid content in yolk (P < 0.05). Regardless of LPS challenge, PLP significantly elevated serum total antioxidant capacity (T-AOC), total superoxide dismutase (T-SOD), and IgA (P < 0.05). LPS decreased hepatic T-AOC and glutathione peroxidase (GSH-Px) activities (P < 0.05), whereas PLP increased hepatic T-AOC and GSH-Px (P < 0.05). A significant PLP × LPS interaction was observed for serum and hepatic malondialdehyde (MDA), with PLP reversing LPS-induced MDA accumulation (P < 0.05). We found that PLP markedly reduced hepatic pro-inflammatory cytokines (IL-6, IL-1β, and TNF-α) and increased anti-inflammatory cytokines IL-10, irrespective of LPS (P < 0.05). Moreover, PLP increased cecal acetate and butyrate concentrations and improved jejunal morphology by increasing villus height and villus height/crypt depth ratio (P < 0.05), independent of LPS. Microbiota profiling showed that PLP enriched beneficial taxa, including Lactobacillus, Alloprevotella, and Faecalibacterium under LPS challenge and increased Faecalibacterium prausnitzii abundance regardless of LPS (P < 0.05). Metabolomics suggested that PLP modulated arginine and proline metabolism irrespective of LPS, and regulated α-linolenic acid and arachidonic acid metabolism, as well as MAPK and calcium signaling pathways under LPS stimulation. Collectively, PLP may alleviate LPS-induced impairment and support gut-liver health, potentially by enriching SCFA-producing bacteria and enhancing SCFA production, indicating its promise as a functional feed additive to improve overall performance in laying hens.