Abstract:Polygonatum，a typical resource with medicinal-food homology，is rich in various bioactive components such as polysaccharides，saponins，and flavonoids. However，natural bioactive components generally suffer from issues such as high molecular weight，poor solubility，low bioavailability，and strong irritation，which limit their processing and product development. Microbial fermentation technology has become an effective pathway to address these problems owing to its mild conditions，high conversion efficiency，and environmental friendliness. This paper reviews the major functional components of Polygonatum and systematically analyzes the characteristics of three technical modes：liquid fermentation，solid-state fermentation，and composite fermentation. It focuses on the metabolic mechanisms of core fermentation strains，including lactic acid bacteria，yeast，and complex microbial systems. Furthermore，this review elaborates on the degradation and modification of Polygonatum polysaccharides by fermentation，biotransformation，and toxicity-attenuating and efficacy-enhancing effects on saponins，as well as the synergistic effects on other active ingredients，such as flavonoids and γ-aminobutyric acid （GABA）. This review aims to provide a theoretical reference for the deep processing and high-value utilization of Polygonatum spp. resources.