In this study, we adopt the white ginseng as raw material, which was processed as fermented ginseng products with Paecilomyces hepiali through solid culture. The characteristic chemical markers of them were investigated by RRLC–Q-TOF-MS (rapid resolution liquid chromatography coupled with quadrupole time -of-flight mass spectromtry) method combined with multivariate statistical analysis.And the implications of these components on biological activity were investigated for the improvement of the phagocytic function of macrophages in Zebrafish.According to the established RRLC–QTOF-MS chemical profiling, the contents in ginsenosides of high molecular weight especially malonylated protopanaxadiol ginsenosides were slightly decrease due to the fermentation process, which were hydrolyzed into rare and minor ginsenosides.