Heparanase is a critical enzyme involved in the remodeling of the extracellular matrix (ECM), and its elevated expression has been linked with diseases such as cancer and inflammation. The detection of heparanase enzymatic activity holds tremendous value in the study of the cellular microenvironment, and search of molecular therapeutics targeting heparanase, however, assays developed for this enzyme so far have suffered prohibitive drawbacks. Here we present an ultrasensitive fluorogenic small-molecule probe for heparanase enzymatic activity. The probe exhibits a 756-fold fluorescence turn-on response in the presence of human heparanase, allowing one-step detection of heparanase activity in real-time with a picomolar detection limit. The high sensitivity and robustness of the probe are exemplified in a high-throughput screening assay for heparanase inhibitors.Heparanase, an endo-β-glucuronidase of the glycoside hydrolase 79 (GH79) family 1,2 , is responsible for the cleavage of heparan sulfate (HS) chains of heparan sulfate proteoglycans (HSPG) 3 . These protein-polysaccharide conjugated macromolecules, abundantly expressed in the extracellular matrix (ECM), play an essential structural role in maintaining the ECM integrity.Moreover, the HS side chains bind to an array of biological effector molecules, such as growth factors, chemokines, and cytokines, thereby serving as their reservoir that can liberate the desired signaling molecules when needed.