Extraction methods directly affect pectin extraction yield and physicochemical and structural characteristics. The effects of acid extraction (AE), ultrasonic-assisted acid extraction (UA), steam explosion pretreatment combined with acid extraction (SEA) and ultrasonic-assisted SEA (USEA) on the yield, structure, and properties of passion fruit pectin were studied. The pectin yield of UA was 6.5%, equivalent to that of AE at 60 min (5.3%), but the emulsion stability of UA pectin was poor. The pectin obtained by USEA improved emulsion stability. Compared with UA, it had higher protein content (0.62%), rhamnogalacturonan I (18.44%) and lower molecular weight (0.72 × 105 Da). In addition, SEA and USEA had high pectin extraction yields (9.9% and 10.7%) and the pectin obtained from them had lower degrees of esterification (59.3% and 68.5%), but poor thermal stability. The results showed that ultrasonic-assisted steam explosion pretreatment combined with acid extraction is a high-efficiency and high-yield method. This method obtains pectin with good emulsifying stability from passion fruit peel.