Diabetes and osteoporosis are common chronic diseases worldwide, and there is a complex pathological relationship between the two. Due to hyperglycemia, insulin resistance, and accumulation of advanced glycation end products (AGEs), diabetic patients often show a higher risk of fractures. At the same time, chronic low-grade inflammation and oxidative stress caused by diabetes also play an important role in the occurrence of osteoporosis, disrupting the balance of bone remodeling. This review deeply explores the effects of chronic inflammation caused by diabetes on the function of osteoblasts and osteoclasts, analyzes the mechanism of increased bone resorption and decreased bone formation during bone remodeling, and summarizes potential therapeutic intervention strategies, such as anti-inflammatory therapy, bone remodeling promoters, and the application prospects of new targeted drugs.