Peach (Prunus persica (L.) Batsch) is an economically important fruit tree whose fruits, leaves, flowers, and kernels are rich sources of diverse bioactive compounds, including polyphenols, flavonoids, and saponins. A growing body of evidence has demonstrated that these compounds exhibit a wide range of health-promoting effects, such as antioxidant, anti-inflammatory, hypoglycemic, and anticancer activities, thereby providing a solid scientific basis for the comprehensive utilization and value-added development of peach resources. This review systematically summarizes recent advances in the types, distribution, and extraction of bioactive compounds from peach, with a particular focus on extraction and purification techniques. In addition, the functional activities and potential applications of peach-derived bioactive compounds in mitigating oxidative stress, inflammation, cancer, obesity, and cardiovascular diseases are critically discussed. Finally, future perspectives on the development and application of functional ingredients derived from peach are proposed. A theoretical basis for advancing the sustainable development and highvalue utilization of peach resources is proposed.