The aim of this study was to analyze the functional components of five cultivars of ‘Mugunghwa (Hibiscus syriacus L.)’ for the development of ‘Mugunghwa’-added foods. There were five varieties, namely, Hibiscus syriacus ‘Hwanhee’ (HH), Hibiscus syriacus ‘Samchulli’ (SC), Hibiscus syriacus ‘Harmony’ (HM), Hibiscus syriacus ‘Baekgu’ (BG), and Hibiscus sabdariffa L (HB). Of the five varieties tested, HH extract showed the highest total phenolic content (131.85 GAE mg/g), DPPH free radical scavenging activity (95.18%), and anthocyanin and sugar contents. The sensory quality of powders from each Hibiscus variety was evaluated, and it was found that overall palatability decreased in the order: HH, SC, HB, HM, and BG. Thus, addition of Hibiscus variety, which has excellent functionality and palatability, to foods confers an extra element of Korean history and culture, which is expected to improve the marketability of various food products.