Cistanches deserticola Y. C. Ma (CD), belonging to the genus Cistanches in the family Orobanchaceae, is a traditional medicinal and edible plant native to China. Its major active ingredients include polysaccharides, phenylethanoid glycosides, and iridoids, which underpin its pharmacological properties. Contemporary pharmacological studies have found that the active compounds in CD exhibit versatile biological activities, such as anti-aging, anti-oxidant, anti-inflammatory, and immunomodulatory effects. With the development of separation and analysis technologies, significant advancements have been made in the extraction, identification and efficacy study of the active constituents of CD. The quality of CD is affected by many factors, such as species, geographic origin, processing technology and storage conditions. This paper reviews and synthesizes the latest research results on the pharmacological mechanism of the active components of CD and the key factors affecting its quality, so as to provide reference for the efficient development, quality control and comprehensive utilization of CD resources.