The invention relates to a method for extracting 3,4',7-trihydroxy flavanonol and fustin with the antioxidant activity from varnish tree wood meal, and belongs to the field of development and application of plant extracts and chemistry of natural products. The varnish tree wood meal is used as a raw material, extraction, silica gel column chromatography and middle-lowerpressure chromatography are performed to obtain the 95% or above 3,4',7-trihydroxy flavanonol and fustin. The ingredients with the efficient antioxidant activity are obtained from a varnish tree, and the removal rate of DPPH, ABTS and hydroxyl radicals is higher than 95% when the concentration is 50 mg / L or above. The preparation process is rapid and simple, the extracted 3,4',7-trihydroxy flavanonol and fustin are good sources for developing a potential natural antioxidant, and the good commercial prospect is achieved.