Triterpenoid saponins in medicinal plants of the Araliaceae family are important secondary metabolites and key determinants of medicinal quality and pharmacological activity. Their biosynthesis is coordinately regulated by multiple plant hormones and interconnected signaling networks. Jasmonic acid, salicylic acid, auxin, gibberellin, cytokinin, and ethylene can activate or repress transcription factors such as MYC2, WRKY, AP2/ERF, MYB, and bHLH, thereby forming complex regulatory networks that precisely control the expression of key structural genes involved in triterpenoid saponin biosynthesis through synergistic or antagonistic interactions. Current studies indicate that jasmonic acid is the principal positive regulator promoting triterpenoid saponin accumulation, whereas salicylic acid preferentially regulates the downstream modification steps of saponin biosynthesis. In contrast, growth- and development-related hormones mainly influence saponin accumulation indirectly by modulating the growth-defense trade-off. Crosstalk among different hormonal signals further enhances the adaptability of Araliaceae plants to environmental changes and shapes the dynamic patterns of triterpenoid saponin accumulation. This review summarized recent advances in the regulation of triterpenoid saponin biosynthesis by plant hormones in medicinal plants of the Araliaceae family, with the aim of providing a theoretical basis for elucidating the mechanisms underlying active compound accumulation, improving the quality of medicinal plants, and achieving efficient biosynthesis of triterpenoid saponins.