The invention discloses an extraction method of a Chinese caterpillar fungus extract. The extraction method comprises the following steps: S1, preparing Chinese caterpillar fungus micro powder S2, adding the Chinese caterpillar fungus micro powder into an acid solution, heating, performing ultrasonic treatment, adjusting the pH value of the system, and filtering to obtain an extracting solution and S3, performing vacuum concentration on the extracting solution to obtain the Chinese caterpillar fungus extract. The extraction method of the Chinese caterpillar fungus extract, disclosed by the invention, is simple in process and mild in condition, and the obtained extract is high in content.