Inonotus obliquus has high nutritional and medicinal value,especially in treating malignant tumors,diabetes,cardiovascular disease and AIDS,attracting significant attention from scholars in recent years.In this paper,the biological characteristics,chemical composition and pharmacologic effects of Inonotus obliquus were summarized.And the applications in medicine and food were introduced.Future research on Inonotus obliquus was also discussed in order to make Inonotus obliquus obtain effective exploitation and satisfy people's demands.