This experiment was conducted to investigate the effects of live yeast and yeast cell wall polysaccharides on growth performance, rumen function and plasma lipopolysaccharides (LPS) content and immunity parameters of beef cattle. Forty Qinchuan cattle were randomly assigned to one of four treatments with 10 replicates in each treatment. The dietary treatments were: control diet (CTR), CTR supplemented with 1 g live yeast (2×1010 live cell g–1 per cattle per day (YST1), CTR supplemented with 2 g live yeast per cattle per day (YST2) and CTR supplemented with 20 g of yeast cell wall polysaccharides (30.0％≤β-glucan≤35.0％, and 28.0％≤mannanoligosaccharide≤32.0％) per cattle per day (YCW). The average daily gain was higher (P=0.023) and feed conversion ratio was lower (P=0.042) for the YST2 than the CTR. The digestibility of neutral detergent fiber (P=0.039) and acid detergent fiber (P=0.016) were higher in yeast supplemented groups. The acetic acid:propionic acid of the YST2 was lower compared with the CTR (P=0.033). Plasma LPS (P=0.032), acute phase protein haptoglobin (P=0.033), plasma amyloid A (P=0.015) and histamine (P=0.038) were lower in the YST2 compared with the CTR. The copies of fibrolytic microbial populations such as Fibrobacter succinogenes S85, Ruminococcus albus 7 and Ruminococcus flavefaciens FD-1 of the YST2 were higher (P<0.001), while the copies of typical lactate producing bacteria Streptococcus bovis JB1 was lower (P<0.001) compared with the CTR. Little differences were observed between the CTR, YST1 and YCW in growth performance, ruminal fermentation characteristics, microbial populations, immunity indices and total tract nutrient digestibility. It is concluded that the YST2 could promote fibrolytic microbial populations, decrease starch-utilizing bacteria, reduce LPS production in the rumen and LPS absorption into plasma and decrease inflammatory parameters, which can lead to an improvement in growth performance in beef cattle.