Abstract: Truffles is a rare underground edible ectomycorrhizal fungi. It is rich in chemical components, has a wide range of biological activity, and has extremely edible and medicinal value. Truffle fungus contain a variety of bioactive ingredients such as steroids, steroid ketones, enol, sheath esters, ceramides, volatile ingredients, nucleosides, phenols, polysaccharides, nutrients and other ingredients, truffle bodies have anti-mutagenic and antibacterial activities and the polysaccharide from truffle bodies possess antioxidant and anti-tumor activities. This article summarized the chemical composition and biological activity of truffle fungus, which provides a theoretical basis for the further development and utilization of truffles and the addition of its active ingredients to food and medicine.