Abstract: Osteoporosis is a systemic skeletal disorder characterized by reduced bone mass, compromised bone microstructure, and an increased risk of fractures, primarily due to excessive osteoclast-mediated bone resorption relative to osteoblast-mediated bone formation. While current anti-osteoporosis drugs, such as bisphosphonates and denosumab, predominantly focus on reducing bone resorption, osteoanabolic approaches are essential for restoring bone microarchitecture and ultimately reducing fracture risk. Traditional Chinese medicines (TCMs) and their active ingredients have long been used in China for osteoporosis prevention and treatment. This review provides a comprehensive evaluation of the effects and molecular mechanisms of 65 natural products across 24 categories on osteoblast-mediated bone formation. These compounds promote bone formation by regulating key transcription factors (RUNX2 and Osterix) and signaling pathways, including WNT/β-catenin, bone morphogenic protein (BMP), mitogen-activated protein kinase (MAPK), phosphoinositide 3‐kinase/protein kinase B (PI3K/AKT), oxidative stress, autophagy, and epigenetic regulation. Notably, certain natural products e.g., icariin (ICA) exert their effects through multiple targets and pathways. Many of these natural products have demonstrated significant therapeutic efficacy in animal models, such as ovariectomized (OVX) mice. Our findings suggest that natural products with kidney-tonifying, anti-inflammatory, and antioxidant properties, as well as those inhibiting adipocyte differentiation, may hold promise for osteoporosis treatment. Additionally, we highlight current research gaps and propose future directions, including high-throughput screening and validation in diverse animal models, development of novel bone-targeting delivery systems, and identification of natural compounds targeting osteocytes.