Pomelo (Citrus grandis (L.) Osbeck) is a subtropical fruit with a unique flavor and high nutritional value. China has a long history of pomelo cultivation and has developed several varieties. Several studies have shown that pomelo is rich in bioactive compounds, such as polysaccharides, flavonoids, and terpenes, and possesses, antioxidant, anticancer, antiinflammatory, lipid-lowering, hypoglycemic, and antibacterial properties, suggesting that it has broad application prospects in food, dietary supplement, and pharmaceutical industries. Despite the growing interest among researchers on the bioactive compounds and functional properties of pomelo, there is a lack of a comprehensive review on the bioactive compounds and functional properties of pomelo, thereby hindering the development and utilization of these active components. Therefore, this study summarizes the research progress on the main bioactive compounds and functional properties of pomelo in recent years, and extensively explores potential research directions for the future development of these active compounds. Additionally, this study serves as a valuable resource for further research, development, and utilization of pomelo.