Urechis unicinctus, an economic marine invertebrates in China, South Korea and Japan, is one of the delicious marine food-materials with a long history. However, the natural resources of it has being gradually reduced due to the habitat destruction and over-harvesting. In recent years, extensive progress on the artificial breeding and cultivation of Urechis unicinctus have being made, which laid the foundation for protection and utilization of the bioresource. In this paper, the process of studies on bioactive substances identified from Urechis unicinctus is summarized, and the feasibility of industrial utilization is discussed.