The water-soluble polysaccharide was isolated from Periploca laevigata root barks and purified. The structurale, surface, functional properties, and biological activities of P. laevigata polysaccharide (PLP1) were investigated. Scanning electron microscopy (SEM), X-ray diffraction crystallography (XRD), were used for structurale characterization of PLP1. SEM analysis suggested that the polysaccharide had irregular particle size with a large number of cavities, mostly seen as aggregates, and fibrous in nature. The samples had peaks at approximately 22°, and 38° 2θ degrees in the XRD pattern, which indicated both crystalline and amorphous structure. Functional properties of PLP1 were investigated based on water and oil holding capacity, solubility, emulsification activity, and foaming ability. Interestingly, PLP1 exhibited, a noticeable ability to emulsify corn and olive oil. Experimental analysis indicated that PLP1 able to decrease surface tension of water of 67.5 mN/m to 43.7 mN/m. On other trend, bioactivities evidenced that PLP1 is a potent protease and lipase inhibitor. The cell viability proved the cytoprotective effect of PLP1 on cell treated with hydrogen peroxide H2O2, suppressing apoptosis and ameliorating oxidative lesions. The experimental data and multi functionality provides enough evidence and open many new possibilities for biomedicine and food applications.