Momordica Charantia Polysaccharide (MCP) is a key bioactive compound derived from bitter melon fruit. This review summarizes the advancements in MCP research, including extraction techniques, biological activities, and mechanisms. MCP can be extracted using various methods, and has demonstrated hypoglycemic, antioxidant, anti-inflammatory, and immunoregulatory effects. Research suggests that MCP may regulate metabolic enzymes, oxidative stress reactions, and inflammatory pathways. The review highlights the potential applications of MCP in areas such as anti-diabetes, antioxidant, anti-inflammatory, and immunoregulatory research. Future research should focus on elucidating the molecular mechanisms of MCP and optimizing extraction methods. This review provides a foundation for further research and utilization of MCP.