Bat feces have been reported in traditional Chinese medicine (TCM) books to have the effect of reducing fever and improving eyesight, but the mechanism of vision improvement still needs further research. To this end, we used 2,2-diphenyl-1-picrylhydrazyl (DPPH) radical scavenging activity and liquid chromatography/tandem mass spectrometry (LC/MS/MS) to analyze the antioxidant capacity of and the types of vitamins in bat feces. We hoped to screen the pharmacological components of bat feces and to explain the role that these components may play in treating visual deterioration. Our results found that bat feces had a good antioxidant capacity and mainly contained vitamins B1 (thiamine), B2 (riboflavin), B3 (nicotinamide), B3 (nicotinic acid), and B5 (pantothenic acid). Although these vitamins may help to maintain the health of the optic nerve and cornea, the vitamin content of bat feces is low, but the heavy metal content is high, as shown using inductively coupled plasma–mass spectrometry (ICP-MS) analysis. Therefore, we suggest that the use of bat feces as TCM to improve vision should be strictly restricted.