The invention discloses a peach gum polysaccharide, comprising 70-98 wt% of neutral total sugar and no nucileic acid, protein, tannin, dextrin, starch and other impurities, wherein, the content of glucuronic acid in the neutral total sugar accounts for 5-30 % of the content of the peach gum polysaccharide, the average molecular weight of the peach gum polysaccharide is more than 3000 dalton, and an aqueous solution of the peach gum polysaccharide has a dynmaic viscosity of 0.5-4.0 pa. s, a pH value of 4.0-6.5, and a specific rotation defined in the description. The invention also provides an extractive of the peach gum polysaccharide, and a preparation method of the peach gum polysaccharide and the extractive, and an application as a stabilizing agent. The preparation method of the peach gum polysaccharide and the extractive can ensure that various physicochemical properties of the peach gum polysaccharide satisfy the requirements of use in food, medicines, cosmetics, and light industry field, keeps natural state of the peach gum polysaccharide, has no effluence on the product properties of the peach gum polysaccharide, ensures the safety, stability, validity and controllability of the product, and has a wide commercial prospect and application future.