In order to explore the differences of litchi pulp polysaccharide fractions, the content and composition, as well as antioxidant capacities and α-glucosidase inhibitory activities of varied litchi pulp polysaccharide fractions were studied. A DEAE-52 anion-exchange column was used to obtain two different litchi pulp polysaccharide fractions, denoted as LPI and LPII. The contents of neutral sugar, uronic acid, and protein were analyzed. In addition, their antioxidant activities were evaluated by oxygen radical absorbance capacity (ORAC) and cellular antioxidant activity (CAA). The p-nitrophenyl-α-D-glucopy-ranoside method was used to measure the α-glucosidase inhibitory activity. The results showed that LPII contained more neutral sugar and protein than LPI, but less uronic acid. LPII exhibited higher antioxidant activity in ORAC value (30.08μmol/g) and CAA value (8.72μmol/g) that those of LPI (24.51μmol/g and 5.36μmol/g). In addition, the IC₅₀ values of α-glucosidase inhibition were 0.33 and 0.26mg/mL for LPI and LPII. The results demonstrated that bioactivities of litchi pulp polysaccharide fractions were related to its neutral sugar and protein contents.