Bovine colostrum is the milk secreted by cows in the first few days after natural birth. It is rich in lactoferrin, immunoglobulin, antimicrobial peptides, growth factors and other active ingredients. The special nutritional composition of bovine colostrum endows it with a variety of biological activities, such as regulating immunity, improving gastrointestinal health, improving bone health and promoting wound healing. Therefore, bovine colostrum has attracted extensive attention as a functional food or functional milk ingredient. In this paper, the nutritional composition, biological functions and processing stability of bovine colostrum are described in detail, aiming to provide a reference for the development, application and standardized production of bovine colostrum.