Purpose: The aim of this study was to investigate the biological and cosmetic properties and industrial value of Codonopsis lanceolata (C. lanceolata, Deodeok) skin extract. Methods: 2,2-Diphenyl-1-picrylhydrazyl (DPPH) radical-scavenging activity, total polyphenol content, flavonoid content and superoxide dismutase (SOD)like activity were measured to investigate the anti-oxidative effect of C. lanceolata skin extract, while its cytoprotective effect was studied on HaCaT cells treated with hydrogen peroxide. Nitric oxide (NO) production inhibition was evaluated using Griess' method, after inducing an inflammatory response in RAW 264.7 cells using lipopolysaccharides (LPS). Results: DPPH radical-scavenging ability at 500 μg/ mL was 74.93% and 85.25% for hot water and ethanol extracts, respectively, while total polyphenol contents were 70.22 and 75.27 μg/mL and total flavonoid contents were 16.12 and 22.65 μg/mL; SOD-like activities of the extracts were 62.2% and 69.93% at 500 μg/mL. The extracts exhibited a 30% and 36% protective effect at 100 μg/mL on hydrogen peroxide-treated HaCaT keratinocytes, respectively, and NO inhibition in RAW 264.7 cells induced with LPS was 14.57 and 11.45 μM at 100 μg/mL concentration. Conclusion: These results suggest that the ethanol extract of C. lanceolata skin has higher anti-oxidative, cytoprotective, and anti-inflammatory effects than the hot water extract, and is a candidate for a natural, functional cosmetic material.