This study developed selenium nanoparticles stabilized with Morinda officinalis polysaccharides (Se-MOP), which were spherical, evenly sized (~67 nm), and stable. Se-MOP showed significant anti-cancer effects against five cancer cell lines, with the strongest inhibition on HepG2 liver cancer cells (IC50 of 2 μg/mL at 48 h and 1 μg/mL at 72 h), and also enhanced immune function by promoting lymphocyte proliferation and increasing cytokine expression (IFN-γ, IL-2, IL-4). These findings suggest Se-MOP is a promising candidate for cancer therapy and immune enhancement, though further in vivo studies are needed.