To develop the phenol resources in Lactarius hatsudake Tanaka, solvent extraction with ultrasonic assisted was used. On the basis of single factor test, the solvent, solvent concentration, liquid ratio, ultrasonic time and extraction times were selected as optimum conditions. The results showed that the optimum extraction conditions were ethanol concentration of 56%, solid-liquid ratio of 1∶25 (g/mL), extraction time of 80 min, and extract two times under this condition. The result of ultrasonic assisted extraction is 1.05%, and the result is reliable.