Yeast is a unicellular eukaryote and become an important experimental organism in biochemistry, genetics and cell biology on the basis of its many advantages. In vitro experiment, cell-free yeast system plays an important role in enzyme function, enzyme composition, coenzyme characteristics, tRNA structure, eukaryotic transcription, and so on. As a model organism, yeast also played a fundamental contribution in many great discoveries including cell cycle, vesicular transport, cell autophagy, telomere protection, protein folding, unfolded protein response, DNA damage response, target of rapamycin and histone regulation. Many scientists won the Nobel Prize for these discoveries. In this article, the application and significance of yeast in scientific researches are introduced.