Extractions of Polygonatum kingianum were prepared, and the contents of polysaccharide, polyphenols, saponins, flavonoids, as well as the antioxidant activity and tyrosinase inhibitory activity were determined. The safety of the extraction was studied by cell test, and its application potential in daily chemical products was evaluated. The results show that the contents of total polysaccharides, polyphenols, saponins, flavonoids of dried, steamed and alcoholic extractions of P. kingianum were 39.68%-56.33%, 0.31%-4.11%, 4.10%-8.54%, 0.14%-0.47%, respectively. The three kinds of extractions show a certain reducing power, high scavenging rate of hydroxyl radical and DPPH free radical, and tyrosinase inhibitory activity. With the same concentration, the activity of the alcoholic extraction of P. kingianum is significantly higher than the other two extractions (P<0.05). The activities of keratinocytes and fibroblast cells reveal that 0.2% of alcoholic extraction of P. kingianum is non-cytotoxic. Together, the extraction of P. kingianum, especially the alcoholic extraction, are rich in polysaccharides, saponins and other active compounds, and show antioxidant and tyrosinase inhibitory activities without cytotoxicity. It has an important application value in daily chemical products.