The essential oils and polysaccharides from guava leaves have important functions. In the process of microwave extraction of plant essential oils and polysaccharides, pretreatment with lithium salts solution is helpful to increase the extraction rate. The experiment was conducted using a single factor method. Results were optimized by principal component analysis and response surface optimization. The optimal conditions were: LiCl dosage 45 μmol, microwave time 40 min, liquid-solid ratio 10, homogenization time 4.2 min, liquid-material ratio 10, and microwave irradiation power 700 W. The highest yield of essential oil and polysaccharide were 10.27 ± 0.58 mL/kg dry weight (DW) and 50.31 ± 1.88 g/kg·DW, respectively. Three verification experiments showed that the extraction rate of the microwave method was higher than that of the traditional heating method. In addition, the bacteriostatic zones reached the maximum 23.7 ± 0.11 mm when the concentration was 40 μL/mL, and the above results have practical significance.