The invention discloses a lactobacillus plantarum strain producing extracellular polysaccharide, and application thereof, and the preservation number of the lactobacillus plantarum strain is CGMCC No.5222. Proven by tests, the lactobacillus plantarum strain has the characteristic of producing extracellular polysaccharide, and different from the amount of extracellular polysaccharide produced by other lactobacillus plantarum, the lactobacillus plantarum disclosed by the invention is a newly separated and identified lactobacillus plantarum strain and has unique physiological-biochemical characteristics and genetic background. The produced extracellular polysaccharide is capable of stimulating B lymphopoiesis and enhancing immunity, thus having wide prospects in applications of medicine, health products and food for improving immunity.