Phenolic compounds are the most abundant secondary metabolites in plants, showing a wide range of distinct biological activities, have received more and more attention in recent years. This review aims to gather and systematize available information on the phenolic compounds from plants by discussing different types of phenolic compounds, extraction, and analysis methods, with an emphasis on their potential biological activities. The research direction and problems that should be paid attention to in the future are also put forward to provide some references for the further study of phenolic compounds.