Polysaccharide was extracted from banana peels by water extraction-alcohol precipitation method, and its content was determined by phenol-sulfuric acid method. Besides, the moisturizing effect of banana skin polysaccharide was evaluated. A kind of hand cream was prepared by the application of the polysaccharide extracted from banana peels. The results showed that the content of banana skin polysaccharide was 3.99% and it can keep good moisturizing effect for 24 h. Besides, the hand cream prepared with banana skin polysaccharide was exposed to be detected its physical and chemical index, sensory index and hygienic index. Results showed that all of these indexes conformed to the national light industry standards, and the hand cream is worth of promotional value.