To address the bottlenecks of waste and low added value of leaves, flowers and other by-products in the Dendrobium officinale industry, consider strategic demands of the “Great Food View” and “Healthy China 2030”, this paper conducted a systematic review on the resource characteristics, physiological activities and high-value processing technologies of Dendrobium officinale leaves and flowers by-products. The results showed that Dendrobium officinale leaves and flowers were rich in active components. These components included flavonoids, polysaccharides and polyphenols, with functions of antioxidant, immunomodulatory and hypoglycemic activities, complementing the components in the stems. A diversified technical system including solvent extraction, enzyme-assisted extraction and vacuum freeze-drying was established. Products were extended to the fields of food, health products, and daily chemicals. However, problems existed such as high technical costs, lack of standards and insufficient industrialization transformation. Relevant studies in Guangxi were particularly weak. It provides the scientific and technological support for constructing a whole-chain value-added model for the Dendrobium officinale industry in Guangxi. It facilitates the green transformation of the traditional Chinese medicinal materials industry and rural revitalization, offering references for the high-value utilization of medicine and food homology by-products.