NOVELTY - Peanut shells are dried, pulverized, aqueous ethanol is added, heated, reflux-extracted, filtered, and residue is extracted. To obtained filtrate, granular activated carbon is added, filtered and decolorized filtrate is concentrated to obtain beta -sitosterol. Aqueous solution of ethyl acetate is added with hydrochloric acid and petroleum ether, concentrated and crude luteolin is dissolved in aqueous ethanol and concentrated. Resultant material is cooled, and obtained luteolin crystals are recrystallized to form high-purity luteolin.    USE - Extraction of beta -sitosterol and luteolin (claimed).    ADVANTAGE - The method efficiently and economically extracts beta -sitosterol and luteolin having high purity, by simple method without using special equipment and without affecting the environment.    DETAILED DESCRIPTION - Peanut shells are collected, dried and pulverized to size of 20-40 mesh. 70-85% Aqueous ethanol is added to the resultant material, heated at 35-55 degrees C, reflux-extracted for 2-5 hours, filtered in ceramic membrane filter, and the residue is repeatedly extracted. To the obtained filtrate, decolorized granular activated carbon is added, filtered in ceramic membrane and the filtrate is decolorized. The decolorized filtrate is concentrated at 40-50 degrees C under reduced pressure, dried, and 7-12 %mass aqueous sodium hydroxide solution is added and maintained for 20-30 minutes. To the resultant solution, ethyl acetate is further added and extracted. The ethyl acetate extract is evaporated to dryness to obtain beta -sitosterol. The aqueous solution of ethyl acetate is added with hydrochloric acid, and the pH is adjusted to 5.5 or less, and 2-3 times petroleum ether is added and further extracted. The obtained extract is concentrated to dryness under reduced pressure at 40 degrees C to obtain crude luteolin. The crude luteolin is then dissolved in 75% aqueous ethanol, and equal volume of hot water having temperature of 45-70 degrees C is added, concentrated under reduced pressure and ethanol is recovered. The resultant material is then cooled, maintained at 4 degrees C for 48 hours, and obtained luteolin crystals are recrystallized to form high-purity luteolin.