The present invention provides a use of a composition in preparing a cosmetic having moisturizing effect, wherein the composition comprises a P-113 peptide, wherein the P-113 peptide comprises the sequence of SEQ ID NO: 1. It is hypoallergenic and non-cytotoxic, which means it does not cause harms or allergies to the skin and can be used as an ingredient of cosmetic products. The P-113 peptide fragment has moisture absorption and moisture retention effects, therefore it can be formulated with other ingredients of moisturizing cosmetic products, enhancing the moisturizing effect of other moisturizing ingredients. In addition, the P-113 peptide fragment is capable of inhibiting the production of MMP-9 and thus decreases collagen degradation, thereby achieving the anti-wrinkle and anti-aging effects. The cosmetic of the present invention comprises not only the peptide, but also active ingredients of cosmetic products and essence liquid formulations. Accordingly, it not only provides major effects such as moisturizing and anti-wrinkle, but also enhances other composite functions, such as astringent effect, whitening, anti-aging, anti-oxidation or skin tissue activation.