The invention provides daun negokilo polysaccharide and application thereof in preparation of immunoregulatory and antineoplastic drug and functional food. The daun negokilo polysaccharide can promote mononuclear macrophage strain to devour neutral red and release nitric oxide, can promote proliferation of cell B and cell T, can remarkably improve spleen and thymus indexes of immunosuppressed mice, transformation and proliferation of the cell T and the cell B and leucocyte level of the immunosuppressed mice, can obviously inhibit growing of tumor tissue and can protect organism, inhibit lowering of body weight and increase body weight. Polysaccharide serves as a main functional component, has multiple healthcare functions, is purely natural in source, thereby being free of side effect, and can be developed to be immunoregulatory, antineoplastic and anti-angiogenic drug and healthcare products, thereby having good market application prospect.