Diabetic nephropathy (DN) is one of the microvascular complications of diabetes mellitus (DM) and a leading cause of end-stage renal disease (ESRD), posing a global public health burden. The theory of “medicine food homology” (MFH) has a long history in China and refers to the fact that many traditional natural products have both culinary and therapeutic benefits. The pathogenesis of DN involves multiple factors, such as insulin resistance, metabolic disorders, hemodynamic alterations, among others. The control of DN onset and progression largely depends on early detection and effective treatment. It has been found that some MFH plants can play a role in improving DN by protecting renal mitochondria, modulating endoplasmic reticulum stress, inhibiting oxidative stress, attenuating inflammatory responses, and protecting renal podocytes. This review summarizes some of the traditional functions of MFH plants and specifically discusses the therapeutic and potential medicinal value of MFH plants against different pathogenic mechanisms of DN, with a view to informing the treatment of DN with MFH plants.