Objective To determine the effect of reed rhizome polysaccharides (R?Poly) on hyperlipidemia in rats. Methods In total, 32 male SD rats were randomly divided into four groups: control group, model group, R?Poly group, and Lipitor group. Rats in the control group were fed a standard diet, while those in the other three groups received a high?fat diet. After eight weeks, rats in the R?poly group and Lipitor group were gavaged daily with 200 mg/ kg R?Poly or 2 mg/ kg atorvastatin for six weeks. The normal group and model group received an equal volume of physiological saline. At the end of the sixth week, all rats were terminated. Serum lipids were detected, and liver and aorta pathological examinations performed. Result Compared with the control group, serum triglyceride ( TG) levels were significantly decreased in the model group, while levels of total cholesterol (TC), low?density lipoprotein?cholesterol (LDL?C), and high?density lipoprotein?cholesterol (HDL?C) were significantly increased ( P < 0.01). Compared with the model group, levels of TC, LDL?C, and HDL?C were visibly decreased ( P < 0.01) in the R?Poly group and Lipitor group. Extensive fatty degeneration and inflammatory cells were found in model group rats, with the degree of hepatic steatosis and inflammation significantly alleviated in the R?Poly group and Lipitor group. Conclusions R?Poly can reduce the level of TC and LDL?C in rats with hyperlipidemia, and alleviate the degree of hepatic steatosis and inflammation. Accordingly, R?Poly has a good regulating effect.