A process for extracting arasaponin from notoginseng and purifying it includes such steps as pulverizing the notoginseng, removing impurities, baking, percolating by the aqueous solution of alcohol, extracting by hot reflux, vacuum concentrating, adsorbing by macroreticular resin, eluting sequentially with water, ammonia water and alcohol solution, collecting the eluting liquid, concentrating, and drying. It can be made into tablet, capsule, or injection.