Abstract: Platycodon grandiflorum-licorice herbal pair is commonly used in clinical practice, possessing the effects of clearing heat and reducing fire, relieving sore throat and resolving phlegm. Studies have found that this herbal pair contains various components such as flavonoids and polysaccharides, exerting anti-inflammatory, immunomodulatory, antioxidant, antitussive and expectorant, antitumor, and hepatoprotective effects. It can effectively treat diseases of the respiratory, digestive, circulatory, sensory, and urinary systems. Although the Platycodon grandiflorum-licorice herbal pair has wide clinical applications, a comprehensive review of this herbal pair has not yet been reported. This article summarizes and reviews the research progress of the Platycodon grandiflorum-licorice herbal pair from the perspectives of herbal textual research, chemical composition, pharmacological effects, and clinical applications, so as to provide a theoretical basis for the study of the compatibility mechanism of this herbal pair and expand its clinical application.