Abstract: To explore the effects of Ganoderma lingzhi fruiting body polysaccharide combined with aerobic exercise on the lipid-lowering and antioxidant levels of high-fat mice. The crude polysaccharide of Ganoderma lingzhi fruit body was extracted by water extraction and alcohol precipitation, and then purified by deproteinization, separation and purification to obtain pure Ganoderma lingzhi polysaccharide (GLP). The structural characteristics of GLP were analyzed by scanning electron microscope and Fourier infrared spectroscopy. A high-fat mouse model was constructed by feeding high-fat diets, including normal feeding group (CG), high-fat diet group (HD), Ganoderma lingzhi polysaccharide group (GLP), Aerobic exercise control group (AE) and Ganoderma lingzhi polysaccharide and aerobic exercise combined group (GLP/AE), GLP group and GLP/AE group were given Ganoderma lingzhi polysaccharide gavage at a dose of 2.0 g/kg/d, and the rest groups were given the same amount of normal saline, and the AE group and GLP/AE group were given aerobic treadmill exercise, 1 h/d, 5 d a week. After 8 weeks of aerobic treadmill training, the concentrations of triglyceride (TG), total cholesterol (TC) and low-density lipoprotein cholesterol (LDL-C) in the serum of each group of mice were measured. The activity of superoxide dismutase (SOD), catalase (CAT), glutathione peroxide dismutase (GSH-Px) and malondialdehyde (MDA) contents, and pathological observations were made on the liver tissues of mice in each group. The result showed Ganoderma lingzhi polysaccharide presented an irregular sheet structure, the surface was not smooth, there were spot-like protrusions and depressions, and its anomeric carbon was in the β configuration. After 8 weeks of high-fat diet, the weight of the HD group increased by 32.95% and the liver weight increased by 40.19% compared with the CG group. TG, TC, and LDL-C all increased significantly, while the endogenous resistance The activity of the oxidase system was significantly reduced, indicating that the oxidative stress caused by lipid peroxidation caused damage to the mice. The atherosclerosis index of the HD group was significantly higher than that of the CG group (P<0.05); GLP, AE and GLP/AE group, the serum levels of TC, TG, and LDL-C in mice were significantly reduced, while the content of HDL-C increased. Among them, aerobic exercise combined with Ganoderma lingzhi polysaccharide intervention could significantly reduce blood lipids, reducing the content of TG, TC and LDL-C by 55.79%, 22.54% and 62.52%, respectively. In addition, compared with the HD group, the Ganoderma lingzhi polysaccharide group, aerobic exercise group, and Ganoderma lingzhi polysaccharide combined with aerobic exercise group could reshape the activity of endogenous antioxidant enzymes, clear MDA, and reduce lipid droplets in liver cells and the degree of fatty degeneration. It could be seen that the combination of aerobic exercise and supplementation of Ganoderma lingzhi polysaccharides had a significant effect on lowering blood lipids in mice, and at the same time can enhance the resistance of mice to oxidative damage caused by lipid peroxidation. Ganoderma lingzhi polysaccharide was expected to be developed as a weight loss and lipid-lowering product. Ganoderma lingzhi polysaccharide combined with aerobic exercise intervention was a potential way to prevent and assist the treatment of hyperlipidemia.