In this study, matured silkworm hemolymph was studied for inhibitory effect on melanin formation, tyrosinase activities. A matured silkworm hemolymph mass purification method was developed and some of suppressing melanin formation effects were investigated, too. As a result, the advanced purification method was higher in yield rate than existing one by 53%. A free radical scavenging activity of hemolymph was higher than sericin on the market(IC 50 , 202.9 ± 33.1) and lower than vitamin C(0.57 ± 0.02) by 6.4 ± 0.3 ㎍/㎖. An inhibitory effect on melanin synthesis was higher in hemolymph compared to Morus bark and arbutin by 9.15% and 11.56%, respectively. An inhibitory effect on tyrosinase activity was higher in hemolymph than Morus bark and lower than arbutin. Effect of hemolymph 45 ㎍/㎖ on suppressing of tyrosinase was almost 90%. Thus, these results suggest that hemolymph of matured silkworm may have beneficial properties as a material for cosmetics.