Dahuang Zhechong Pill (DHZCP) has been widely used in the treatment of hepatocarcinoma in China. The aim of our study was to identify the characteristic components of DHZCP. First, HPLC fingerprint of DHZCP was established to analyze the common components of 14 batches of DHZCP samples, which were purchased from different manufacturers. The results of HPLC fingerprint detected 164 peaks in these 14 batches of DHZCP. Through similarity analysis, cluster analysis, and principal component analysis, we identified 20 common components upon which to conduct quantitative analysis conducted by an HPLC method. After that, a cytotoxicity test was carried out to screen the active components in DHZCP. The results showed that hypoxanthine, rhein, emodin, aloe emodin, and wogonin are the active components of DHZCP for the treatment of hepatocarcinoma, as they have significant inhibitory effect against the activity of drug-resistant hepatocarcinoma cells (SMMC-7721/DOX) than others.