Drug development for Alzheimer’s disease, the leading cause of dementia, has been a long-standing challenge. Saponins, which are steroid or triterpenoid glycosides with various pharmacological activities, have displayed therapeutic potential in treating Alzheimer’s disease. In a comprehensive review of the literature from May 2007 to May 2023, we identified 63 references involving 40 different types of saponins that have been studied for their effects on Alzheimer’s disease. These studies suggest that saponins have the potential to ameliorate Alzheimer’s disease by reducing amyloid beta peptide deposition, inhibiting tau phosphorylation, modulating oxidative stress, reducing inflammation, and antiapoptosis. Most intriguingly, ginsenoside Rg1 and pseudoginsenoside-F11 possess these important pharmacological properties and show the best promise for the treatment of Alzheimer’s disease. This review provides a summary and classification of common saponins that have been studied for their therapeutic potential in Alzheimer’s disease, showcasing their underlying mechanisms. This highlights the promising potential of saponins for the treatment of Alzheimer’s disease.