In order to improve the extraction ratio of rice bran oil, a single-factor experiment and response surface methodology with a central composite design were used to determine a new mixed solvent and the optimal extraction conditions of the mixed solvent. The effects of solid–liquid ratio, extraction time, extraction temperature, and oscillation speed on the extraction ratio were investigated. The regression equation was established, and the optimal extraction conditions were determined as follows: a solid–liquid ratio of 5.5:1, extraction temperature of 45 °C, extraction time of 12 min, and extraction ratio of rice bran oil of 85.8%. Compared with traditional solvent extraction, the peroxide value, acid value, iodine value, and fatty acid composition content of rice bran oil extracted using the new mixed solvent were close to those of n-hexane and significantly lower than those of solvent No. 6, while the content of oryzanol and total sterol increased to 2.7% and 5.1%. This study can be useful in exploring the possibility of new mixed solvents and provide theoretical guidance and data support for the production practice of new mixed solvents.