The extraction conditions of yellow pigment from Rosa sterilis D. shi were optimized by extraction agent screening and uniform experimental design, and the effects of light, pH, oxidant, reducing agent, metal ions and sugar on their stability and antioxidant capacity was investigated. The optimum extraction conditions of Camellia oleifera cake were obtained as follows: 80% acetone, the ratio of material to liquid is 116 （g/mL), each time ultrasonic assisted extraction for 3.5 h at 58 ℃, and extraction 2 times. The yellow pigment was unstable in the sunlight, but showing a strong antioxidant capacity. Yellow pigment and its antioxidant capacity was relatively stable in the pH 5～7. H₂O₂ destroyed the color and its antioxidant capacity of yellow pigment. Na₂SO₃ could significantly increase the absorbance, FRAP and TRPA of yellow pigment. It was stable to Zn²⁺, Cu²⁺, K⁺, Mg²⁺, Na⁺ and Al³⁺, but unstable to Fe³⁺, the tested metal ions had a certain effect on antioxidant capacity of yellow pigment. Glucose, sucrose and maltose had little effect on stability of yellow pigment, while maltose could improve the FRAP.