Panax ginseng C. A. Meyer is one of the important nutraceutical and medicinal plants, which is used worldwide. Until now, ginseng has been reported to contain saponins, antioxidants, peptides, polysaccharides, fatty acids, vitamins, alkaloids, lignans, and flavonoids. The saponins, known as ginsenosides, are widely believed to be the major bioactive compounds of ginseng. In this article, ginsenoside biosynthesis pathway and key enzymes regulation are also described. This review provides a reference for improving ginsenoside contents through regulation of ginsenoside biosynthesis pathway.