As a renewable lignocellulosic biomass resource, corn straw has great potential for waste utilization in agriculture and sustainable development. In recent years, considerable attention has been given to the research on repurposing organic acids, saccharides, and other active substances extracted from corn straw. This review is focused on the progress in the preparative techniques and product development of organic acids and saccharides, realizing the high-value utilization of corn straw. This review also discusses the potential applications of corn straw in the food and biopharmaceutical industries, and sheds light on the current challenges and future directions in the efficient utilization of straw resources.