The invention discloses total triterpene extract and total phenol extract extracted from Chinese herbal medicine glossy privet fruit and a preparation method thereof. The total triterpene extract mainly contains oleanolic acid, ursolic acid, acetyl oleanolic acid, indicant compound and other derivatives with acetyl oleanolic acid as the mother nucleus. The total phenol extract mainly contains hydroxyl mandelic, 3, 4-dihydroxy phenylethyl alcohol, salidroside and indicant compound and other derivatives with salidroside as the mother nucleus. The glossy privet fruit total triterpene extract and total phenol extract can be prepared by any method of solvent distillation, solvent extraction, deposition, macroporous resin absorption, supercritical fluid extraction, column chromatography and liquid-liquid countercurrent distribution chromatography, or any combination of these methods. The total percentage of various triterpenoids of the prepared glossy privet fruit total triterpene extract is 5 to 100 percent (w/w); wherein, the content of oleanolic acid and ursolic acid accounts for 5 to 100 percent (w/w) of the total triterpene. The total percentage of various phenols of the prepared glossy privet fruit total phenol extract is 5 to 100 percent (w/w); wherein, the content of salidroside accounts for 5 to 100 percent (w/w) of the total phenol.