In the present study, we have provided a facile and feasible procedure for total triterpenic acids extraction from the traditional Chinese medicine Polyporus umbellatus as well as appraisal of their antihyperlipidemic activity in hyperlipidemic rats model. To optimize the extraction procedure, solvents were evaluated by mono-factor test, the other conditions including liquid/solid ratio, the size of sample, extraction temperature and extraction time were optimized by means of an orthogonal design L9(34). Additionally, the content of total triterpenic acids was measured based on the UV spectral data with oleanolic acid as standard agent. Finally, the hypolipidemic effect of Polyporus umbellatus total triterpenic acids(QPUTA) were tested in Triton WR-1339 induced hyperlipidemic rats. Specifically, high dosage QPUTA showed potent antihyperlipidemic activity and was found to decrease the plasma triglyceride levels (TG) by 77.97%, total cholesterol (TC) by 19.67%, accompanied by an increase in HDL-C/TC ratio by 54.13% to a greater degree than the reference fibrate. Therefore, QPUTA could be used to treat hyperlipidemic patients according to the in vivo hypolipidemic effects.