Phosvitin (Pv) is the principal phosphoprotein in chicken egg yolk and the most highly phosphorylated protein in nature. Pv is a good natural food antioxidant and emulsifier. However, the current extraction methods present disadvantages of complicated operation and are time-consuming. In this paper, Pv was extracted from the egg yolk by ultrasonic thermal-assisted extraction (UTAE). The effects of heating time, ultrasonic power and ultrasonic time on the extraction of Pv were investigated by a single factor. The purity of Pv, ratio of nitrogen to phosphorus (N/P), and activity were used as evaluation indexes. An efficient extraction of Pv was achieved when the sample was heated for 15 min at 80 °C and then processed for 10 min of ultrasonic treatment with an ultrasonic power of 600 W. Under optimal conditions, the purity and activity of Pv were 80% and 98%, respectively, whereas the ratio of N/P was 3.1. The obtained Pv was identified by sodium dodecyl sulfate–polyacrylamide gel electrophoresis (SDS-PAGE), Fluorescence analyses, fourier-transform infrared (FT-IR), and liquid chromatography-nanoelectrospray ionization mass spectrometry (Nano LC-ESI-MS/MS) analysis. The results showed there is no significant difference in the properties of Pv obtained by UTAE and Pv standard. The developed extraction approach is a simple, industrial compatible method without the use of any organic solvents.