Medicago sativa polysaccharides (MSPs) are beneficial compounds extracted from Medicago sativa L. that exhibit multiple medicinal activities. However, little is known about their hypoglycemic effects. In this study, MSP‐II‐a, a neutral polysaccharide with an Mw of 4.3 × 104 Da, was isolated and purified from M. sativa L. Monosaccharide composition analysis determined that MSP‐II‐a was composed of arabinose, glucose, galactose, mannose, rhamnose, and xylose in a molar ratio of 2.1:4.0:1.1:0.4:1.4:1.1. Structural characterization of MSP‐II was performed using a combination of methylation analysis, Fourier transform infrared spectroscopy, and scanning electron microscopy. The results showed that MSP‐II‐a was mainly comprised of 1,4‐p‐Glc, 1,3,4‐Rha, and 1,3‐p‐Gal glycosidic linkages, revealing a mesh‐like texture with irregular blade shapes. In vitro assays demonstrated that MSP‐II‐a, at concentrations of 200 and 400 μg/mL, promoted glucose uptake in insulin‐resistant 3T3‐L1 adipocytes. In vivo studies have shown that MSP‐II‐a significantly alleviates insulin resistance by reducing fasting blood glucose levels and increasing hepatic glycogen synthesis in HFD/STZ‐induced diabetic mice. These findings revealed that MSP‐II‐a is a promising source of bioactive polysaccharides with potential hypoglycemic activity.