The invention relates to the technical field of microbial polysaccharide extraction, and particularly discloses a method for extracting Sanzan gum from fermentation liquor and a product thereof. The method for extracting Sanzan gum from the fermentation liquor comprises the following steps: treating the fermentation liquor with neutral soluble salt, adding ethanol to enable the concentration of ethanol in the system to reach 30-40%, adjusting the pH value of the system to 1.0-3.0, carrying out separation operation, soaking the obtained crude product with ethanol to obtain a material system with the ethanol concentration of 72-85%, and then adjusting the pH value of the material system to 6.0-8.0, ensuring that the concentration of ethanol in the material system is 70-82%, and separating again. The product obtained by the invention has the advantages of high gel strength, high product viscosity, low total number of bacterial colonies, high product percent of pass and the like. Meanwhile, the obtained mother liquor can be recovered and reused after being distilled, so that the method has very high practicability and is beneficial to industrial production.