Abstract: Glycyrrhizic acid, as the main triterpenoid bioactive component in the traditional Chinese medicine licorice, accounts for 3%~10% of the dry weight of licorice. It not only has excellent water solubility but also possesses broad-spectrum pharmacological activities such as antioxidant, antibacterial, and antiviral properties. In recent years, significant progress has been made in its extraction technologies, including solvent extraction, thermal reflux extraction, ultrasound-assisted extraction, as well as combined enzyme-ultrasound synergistic technology, negative pressure cavitation method, and ammonia water extraction combined with ceramic membrane ultrafiltration process. These technologies have significantly improved the extraction efficiency and purity of the target component by optimizing extraction parameters and integrating purification steps. Currently, glycyrrhizic acid has demonstrated important application value in anti-inflammatory, antiviral, antibacterial, and food sweetener fields. This review systematically reviews the research progress in its extraction methods and application fields, and prospects the future trends of promoting industrial upgrading through green process optimization and cross-domain expansion.