Toona sinensis, a perennial and deciduous tree belonging to the Meliaceae family, has been cultivated for more than 2000 years in China. Storing the buds of T. sinensis is difficult, as it is easy for them to rot during storage, which seriously affects their edible and commodity value. Young leaves and buds of T. sinensis plants are excellent source of flavonoids, terpenoids, phenylpropanoids, and more. In addition, the bioactive components of T. sinensis possess numerous health benefits, such as antiviral, antioxidant, anti-cancer, anti-inflammatory, and hypoglycemic effects. In this review, we summarize the storage and preservation, nutritional components, specific chemical compounds, pharmacological value, function genes, and omics of T. sinensis. This review aims to provide basic knowledge for subsequent future research seeking to understand the comprehensive biology and use of T. sinensis as a favored Chinese food and pharmacological resource.