Inulin, a naturally occurring storage polysaccharide, boasts a broad spectrum of applications in the realms of both food and pharmaceutical industries. Inulin is a soluble dietary fiber found widely in plants, primarily derived from various plant sources. Acknowledged as a reserve biopolysaccharide in plants, it attains status as an indigestible carbohydrate owing to its unique β-(2,1)-glycosidic bond structure. Given its ubiquitous presence in nature and its pivotal role in various industries, there has been a growing focus on the extraction, isolation, and characterization of inulin in recent years. Recent studies, both in animals and humans, have demonstrated that functional inulin exhibits a range of bioactivities, including immunomodulation, antioxidant properties, antitumor effects, hepatoprotection, hypoglycemic effects, and gastrointestinal protection. The growing popularity of inulin has led to an increased consumption of foods containing this compound. Additionally, inulin is promising as a bioactive substance for the development of various food products. The initial segment of this chapter provides a comprehensive overview of the fundamental features of inulin. This includes an exploration of its production, applications in industries such as food and cosmetics, its positive impact on human health, and its primary nutraceutical properties. Special attention is given to delving into the techniques employed for the extraction and purification of inulin. The objective is to establish a theoretical foundation for further advancements in the preparation and utilization of inulin in pharmaceutical fields. This chapter endeavors to elucidate the myriad and interconnected roles of inulin, highlighting its crucial contributions to the progress of healthcare and biomedicine. It delves into the recent advancements made in inulin-based therapeutics, culminating in a discussion that draws valuable insights into the prospects and opportunities within the realm of inulin applications.