A water soluble polysaccharide (RAP) was isolated and purified from Radix Astragali and its structure was elucidated by monosaccharide composition, partial acid hydrolysis and methylation analysis, and further supported by FT-IR, GC-MS and H and C NMR spectra, SEM and AFM microscopy. Its average molecular weight was 1334 kDa. It was composed of Rha, Ara, Glc, Gal and GalA in a molar ratio of 0.03:1.00:0.27:0.36:0.30. The backbone consisted of 1,2,4-linked Rhap, α-1,4-linked Glcp, α-1,4-linked GalAp6Me, β-1,3,6-linked Galp, with branched at O-4 of the 1,2,4-linked Rhap and O-3 or O-4 of β-1,3,6-linked Galp. The side chains mainly consisted of α-T-Araf and α-1,5-linked Araf with O-3 as branching points, having trace Glc and Gal. The terminal residues were T-linked Araf, T-linked Glcp and T-linked Galp. Morphology analysis showed that RAP took random coil feature. RAP exhibited significant immunomodulating effects by stimulating the proliferation of human peripheral blood mononuclear cells and enhancing its interleukin production. © 2011 Elsevier Ltd. All Rights Reserved.