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<i>Toona sinensis</i>, a perennial and deciduous tree belonging to the Meliaceae family, has been cultivated for more than 2000 years in China. Storing the buds of <i>T. sinensis</i> is difficult, as it is easy for them to rot during storage, which seriously affects their edible and commodity value. Young leaves and buds of <i>T. sinensis</i> plants are excellent source of flavonoids, terpenoids, phenylpropanoids, and more. In addition, the bioactive components of <i>T. sinensis</i> possess numerous health benefits, such as antiviral, antioxidant, anti-cancer, anti-inflammatory, and hypoglycemic effects. In this review, we summarize the storage and preservation, nutritional components, specific chemical compounds, pharmacological value, function genes, and omics of <i>T. sinensis</i>. This review aims to provide basic knowledge for subsequent future research seeking to understand the comprehensive biology and use of <i>T. sinensis</i> as a favored Chinese food and pharmacological resource.