Cornus officinalis (Co) is a medicinal and edible plant that is rich in active ingredients including polysaccharides, iridoids, and triterpenoids, with hypoglycemic, lipid-lowering, neuroprotective, and renoprotective functions. Hence, it has great potential for development in the food and medicine fields. This article summarizes the extraction and detection methods, health benefits and application of active ingredients in Co, revealing that the active ingredients have high nutritional value and can be developed into food flavor additives, antioxidants and immunomodulators. This review provides a scientific basis for the research and development of Co products.