Objective: Auricularid auricula polysaccharide was isolated from Auricularia auricula, and then iron(Ⅲ)-Auricularia auricula polysaccharide complex(APC) was prepared. Methods: APC was synthesized with FeCl 3 and its physico-chemical property and bioavailability were determined. Results: APC was able to dissolve in water and its solution assumed neutral, and this complex did not precipitate at pH from 3 to 11 in water solution, so APC was very stable. Fe(Ⅲ) in APC could be reduced to Fe(Ⅱ) by ascorbic acid. Extracorporeal dissolubility showed Fe(Ⅲ) in APC could be exhibited in 6 h. Bioavailabity studies showed the iron from APC could be well absorbed and maintained longer in serum concentration. Conclusion: APC was able to have better bioavilability as an iron supplement.