Abstract: Morels (Morchella) are edible and medicinal mushrooms. It is rich in nutrient compositions such as proteins, polysaccharides, dietary fibers, and organic acids. It has functions including immune regulation, antioxidant, anti-inflammatory, anti-tumor, anti-fatigue, and blood sugar reduction. It can be processed into health products, snacks, drinks, and seasonings. This article provides a comprehensive review of the research progress on nutrient compositions, functions, and product processing of morels in the past decade, aiming to guide the development of the morel industry in a scientific and healthy direction.