specifically a process for extracting glycyrrhizic acid from licorice roots, wherein the glycyrrhizic acid is extracted from the licorice root rapidly and effectively by using the method of microwave auxiliary extraction, and then organic extracting agent, e.g. tributyl phosphate, trialkyl phosphine oxide, isooctanol, n-hexyl alcohol, isopentyl alcohol are used for solvent extraction, after stewing or centrifugal phase-splitting, the glycyrrhizic acid will be enriched in organic phase, by using water as solution, and regulating the pH of the miscible liquids to 6.0-12.0, the inverse extraction for glycyrrhizic acid can be carried out, thus obtaining the aqueous solution of the enriched glycyrrhizic acid, and the refined glycyrrhizic acid is obtained through decoloration, acidification, stewing, centrifugal deposition and drying.