The root of Paeonia lactiflora has been used in Chinese medicine. We conducted to check the comparative qualities of ethanol solvent extraction (PLE) and supercritical carbon dioxide extraction (PLS) of P. lactiflora root. PLE had higher antioxidant and polyphenol contents than PLS. But, PLS were significantly increased peroxisome proliferator-activated receptor (PPAR)-α. In addition, PLS inhibited the adipocyte differentiation of 3T3-L1 cells. When treated with the extract at a concentration of 100 μg/mL, the Wnt/β-catenin pathway reporter luciferase activity of HEK 293-TOP cells increased approximately by 3-folds compared to that of the untreated control group. These results indicate that P. lactiflora supercritical carbon dioxide extract may serve as a cosmeceutical for improving skin barrier function and the treatment of obesity.