The invention discloses a demodulation circuit applied to an ultrahigh-frequency tag. The demodulation circuit comprises a hysteresis comparator, an envelope detection circuit, and a high-low-pass filtering circuit, wherein the input end of the envelope detection circuit is connected with a radio-frequency antenna, the L0 end of the envelope detection circuit is connected with low level, and four low-threshold MOS transistors form a gate crossing structure; envelope detection signals are alternately conducted and output; and the high-low-pass filtering circuit adopts a current source, capacitor and resistor combined structure, a filtering function is realized by use of current sources I1 and I2, capacitors C1 and C2 and a resistor R, and the received envelope detection signals are filtered and transmitted to the hysteresis comparator. By adopting the demodulation circuit, the requirements of the ultrahigh-frequency tag on low power consumption, high performance and small area are met.