Oats, a worldwide cultivated crop, is a whole grain with high nutritional value. It is rich in dietary fiber, proteins, lipids, vitamins, minerals and other nutrients, which serve critical roles in regulating lipid metabolism, reducing blood glucose, improving constipation and other aspects. As a special polyphenol of oats, avenanthramides has attracted much attention for its physiological functions. Studies found that avenanthramides 2c, 2f, and 2p were in higher content of natural oats, which had multiple biological functions and played an important health care role in the prevention and treatment of common chronic diseases. In this paper, the research progress of avenanthramides was systemically reviewed, including chemical structure and biological activities of antioxidation, reducing inflammatory reaction, preventing atherosclerosis, and anti-tumor, and hoping to provide reference for the comprehensive utilization and the development of health care products of avenanthramides in oats.