The natural vegetable oil known as Korean pine seed oil is well-known for its high content of being various unsaturated fatty acids, including oleic, linoleic and pinopuric acid. It has been proved that Korean pine seed oil has several physiological benefits such as lowering blood lipids, enhanceing immunity, anti-inflammation, anti-oxidation, enhancing insulin sensitivity, and anti-tumor. This review summarized the extraction methods and pharmacological effects of Korean pine seed oil in recent years, and put forward good suggestions for its application in edible oil and industrial production.