Ultrasound‐assisted extraction (UAE) method proves to be more effective compared to traditional extraction methods. In the present study, response surface methodology (RSM) was used to determine the optimal process parameters for extracting polysaccharides (U‐MCP) from jaboticaba fruit using UAE. The optimum extraction conditions were ultrasonic time 70 min, extraction temperature 60°C, and power 350 W. Under these conditions, the sugar content of U‐MCP was 52.8%. The molecular weights of the ultrasound‐assisted extracted U‐MCP ranged from 9.52×102 to 3.275×103 Da, and consisted of five monosaccharides including mannose, galacturonic acid, glucose, galactose, and arabinose. Moreover, in vitro antioxidant and hypoglycaemic assay revealed that U‐MCP has prominent anti‐oxidant activities (1,1‐diphenyl‐2‐picryl‐hydrazyl (DPPH) radicals, hydroxyl radicals and 2,2′‐Azinobis (3‐ethylbenzothiazoline‐6‐sulfonic Acid Ammonium Salt) (ABTS) radicals scavenging activities) and hypoglycemic activities (α‐amylase and α‐glucosidase inhibition activities).