The invention discloses a traditional Chinese medicine extract with herbs of red tassel flowers and application of the traditional Chinese medicine extract in preparing a skincare product. The addition amount of the traditional Chinese medicine extract with herbs of red tassel flowers in a skincare product is 0.5-10.0%, and the traditional Chinese medicine extract is made of the following raw material medicines in parts by weight: 20-60 parts of herbs of red tassel flowers, 10-20 parts of folium artemisiae argyi, 10-20 parts of rhizoma bletillae, 10-20 parts of astragalus roots and 10-20 partsof radix salviae miltiorrhizae. An extraction method of the traditional Chinese medicine extract with herbs of red tassel flowers comprises a supercritical CO2 extraction method and an ultrasonic extraction method, and the extract can be powder or an extraction liquid. The traditional Chinese medicine extract with herbs of red tassel flowers is added into the skincare product, on the basis of traditional Chinese medicine theories of China, herbs of red tassel flowers, folium artemisiae argyi, rhizoma bletillae, astragalus roots and radix salviae miltiorrhizae are effectively combined, traditional Chinese herbal medicine extracts are used as additives of beautifying skincare cosmetics, and the traditional Chinese medicine extract has the characteristics of being good in relieving effect, stable and long-lasting in medicine effect, mild in skin actions, small in irritation, high in security, remarkable in treatment effect, capable of treating both symptoms and root causes, and the like.