Objective: Buyang-Huanwu Decoction is often used as an adjuvant therapy for ischemic stroke in clinical practice. At the same time, various laboratories have found that it has the potential to treat ischemic heart failure, lower extremity varicose veins, pulmonary hypertension, pulmonary fibrosis, and hyperlipidemia. Previous studies in our laboratory have found that different concentrations of ethanol were used to separate the polar components of Buyang-Huanwu decoction, and the therapeutic effects of each group on pulmonary fibrosis and hyperlipidemia were different. Therefore, we analyzed and explored Buyang Huanwu decoction and its products. Methods: The isolated components were obtained by treatment with absolute ethanol, 30% (v/v), 50% (v/v), 75% (v/v), and 90% (v/v) ethanol, and the components were analyzed by UPLC-MS. Results: The separation method used in our laboratory could well separate the components of Buyang Huanwu Decoction, and simply enrich carbohydrates, organic acids, phenylpropanoid compounds, lipids, nucleotides, and lignans. Conclusions: The products treated with different concentrations of ethanol have different therapeutic potentials. The high content components of 30% ethanol eluate and 50% ethanol eluate have good therapeutic effects on osteoarthritis and bone loss, while the high content components of the precipitate components and 75% eluate are more likely to be related to glucose and lipid metabolism disorders and cardiovascular diseases.