Humic acid (HA) is rich in functional groups with high activity, which can effectively improve the soil environment. The large reserves of weathered coal in China provide sufficient raw material guarantee for HA extraction and utilization. At present, the activation side of weathered coal is still the main technical difficulty that restricts HA extraction. In this study, the weathered coal from Inner Mongolia was used as the raw material, and the mechanical energy was used to activate the weathered coal through a planetary ball mill, which improved the extraction rate of HA and optimized the molecular structure and composition of HA. The effects of four parameters, namely, ball material ratio, ball milling time, ball milling speed, and ball size, on the free HA content of weathered coal were investigated, the HA was extracted by alkaline extraction method, and the activated weathered coal and the extracted HA were characterized. The results showed that a ball material ratio of 9:1, a ball milling speed of 200 r/min, a ball milling time of 200 min, a milling ball size of Ф5:Ф10:Ф15 = 48:42:45 and 56:42:37 are the optimal parameters for the mechanical energy activation, and the HA extraction rate of activated weathered coal under these conditions reached 82.3%, which was 15% higher than that of the unactivated one. Moreover, the aroma of the ball-milled weathered coal increased, the content of oxygenated functional groups increased, and the molecular weight and aroma of HA increased. This provides scientific theoretical guidance for the preparation of HA with high aromaticity and large molecular weight from weathered coal.