Abstract: 【OBJECTIVE】The purpose of this paper is to isolate and purify the polysaccharides from fermented products of Tremella aurantialba (FTAP) and to study its hypoglycemic activities.【METHOD】The process of boiling-water extracting polysaccharides were investigated in comparison with that of alkaline solution extracting polysaccharides to decide the extraction protocol. Sevage method was used to precipitated the protein from the crude polysaccharides solution. The polysaccharides were separated and purified by Sephadex G-75 column chromatography. The hypoglycemic effect of FTAP were investigated in alloxan-induced diabetic mice.【RESULTS】The extraction rate of the polysaccharides by boiling-water process was 15.5%, and the extraction rate of the polysaccharides by alkaline solution process was 14.9%.The method of boiling-water extraction polysaccharides was selected using extract FTAP. The results of Sephadex G-75 column chromatography showed purified FTAP were gained. After orally administrated FTAP 44mg/(kg•d) and 264mg/(kg•d) to hyperglycemic mice for 7d, the glucose and TG in serum were decreased obviously, but serum TC did not change remarkably, compared with the control group.【CONCLUSION】FTAP exhibited significant hypoglycemic activity in alloxan-induced diabetic mice.