Abstract: Metacordyceps neogunnii is worth exploiting and utilizing due to the benefit of human health such as improving the body immunity,promoting sleep,and enhancing memory and analgesia.In order to realize the maximum utilization of Metacordyceps neogunnii,we must fully understand its chemical composition and structure,and the research and application about it should be extended.Based on the analysis of the chemical composition of Metacordyceps neogunnii,this paper focused on the latest research progress of its active substances and pharmacological effects,and summarized the application of Metacordyceps neogunnii in the fields of medicine,food,cosmetics and so on.It is of great significance to realize the maximum development and utilization of Metacordyceps neogunnii as a new Cordyceps alternates.In addition,aiming at the current industrial development of Cordyceps,this paper put forward the key and difficult problems to be solved,laying a foundation for the future research on developing Metacordyceps neogunnii purposefully,which would bring great progress to human health and even the ecological environment.

Key words: Metacordyceps neogunnii, cordyceps sinensis, Cordyceps resource, active substances, utilization