Beta-glucan, a non-starch polysaccharide, is made up of linear D-glucose chains with a (1–3)-β-D-glycosidic linkage, and side chains that are connected to β-(1–6) in fungi and β-(1–4) in plants and bacteria. It is obtained from diverse sources such as cereals, yeast, bacteria, and mold. The source and structure of the β-glucan have the leading role in affecting their functional and nutritional quality. The methods used to extract beta-glucan from these sources can be broadly classified into three major classes: enzymatic, physical, and chemical. Beta-glucan’s physicochemical features are crucial in commercial and dietary uses. β-glucan plays an excellent role in food processing due to its emulsifying, thickening, and water-holding capacities. The physicochemical attributes of beta-glucan can be affected by isolation processes, including temperature, pH, particle size, and solvents. Beta-glucan (BG) possesses numerous health benefits, as it reduces cholesterol and triglyceride levels, maintains blood glucose homeostasis, and improves immunity with anticancer and antioxidant properties. Beta-glucan is safe and non-toxic to consume, as indicated by a large number of oral toxicity studies.