Hippophae rhamnoides L. polysaccharide was optimized with flash extraction by response surface design. The optimum process conditions were: rotation rate 5000 r/min, extraction time 15 s, extraction temperature 90 °C and liquid-to-material ratio 38 mL/g, the extraction yield was 15.28 � 0.02 %. HRP-1 and HRP-2 obtained by 40 % and 60 % graded alcohol precipitation were characterized. The results indicated that HRP-1 and HRP-2 both composed of mannose, ribose, rhamnose, glucuronic acid, galacturonic acid, glucose, galactose, xylose, arabinose with different molar ratio and the molecular weights were 380.59 kDa and 288.24 kDa, respectively. In addition, the in vitro antioxidant and immunoenhancement activities of HRP-1 and HRP-2 were analyzed, and the two fractions showed good free radical scavenging activity against * OH, ABTS * + , DPPH * , and extremely strong immunomodulatory activity against RAW264.7 cells. Indicating that flash extraction is suitable for extraction of HRP, the structural study of HRP provides a scientific theoretical basis for the development of Hippophae rhamnoides.