Abstract: Isoliquiritigenin (ILG) is a flavonoid compound from licorice root.It depends to the chalchon family. ILG can be obtained by the sources of natural extraction and chemical synthesis. This molecule has relatively strong and widespread pharmacological actions such as anticarcinogenesis, anti-AIDS, anti-diabetes mellitus complication and other effects. This paper has mainly described, on the bases of authors′ some research results, the progress on the preparation technologies and the pharmacological actions of ILG. Furthermore, the perspective of research and development of ILG were discussed.