The genus Chrysanthemum has been widely used as both folk medicine and food in East Asia for thousands of years, serving as a significant source of nutritional and pharmacological value. According to the theory of traditional Chinese medicine, it clears heat and toxic materials and regulates liver function. Accumulating evidence has demonstrated that polysaccharides from the genus Chrysanthemum, especially Chrysanthemum morifolium, Chrysanthemum indicum, and Coreopsis tinctoria, are vital representative macromolecules with diverse biological activities, including antioxidant, immunomodulatory, anti-inflammatory, hypoglycemic, antitumor, and antiviral properties as well as the ability to regulate the gut microbiota. It is well-known that different extraction and purification methods may cause differences in the primary structures of chrysanthemum polysaccharides (CPs), which in turn lead to different polysaccharide biological activities. However, the lack of a review summarizing the recent advances in CPs may have hindered their development and utilization. The present review aims to review information on the extraction and purification, structural characterization, biological functions, toxicity, and applications of CPs. In addition, this review may deepen our understanding of CPs, and offers a theoretical basis for the further development of CPs into functional foods and therapeutic agents.