The present invention relates to a composition containing peptide of SEQ ID No. 1 linked to oleanolic acid and a method of treating skin aging. The composition effectively reduces signs of ageing due to oxidation, collagen insufficiency and excess activity of serine proteases like elastase and collagenase that result in wrinkling of skin, fine expression lines, reduced skin thickness, hyperpigmentation, under eye dark circles, and premature ageing.