This study was performed to develop new anti-obesity agents from medicinal plants for functional food industry. We prepared lipase inhibitor-containing ethanol extracts from Desmodium oxyphyllu DC. and its nutritional characteristics, stability of temperature and pH and physiological functionalities were investigated. Crude lipid content and curde protein content of ethanol extract from Desmodium oxyphyllum DC. were 26.5% and 5.7%, respectively and its asparagine content was 4, 860 ㎎/100 g, dry basis. The ethanol extracts were also stable from pH 3.0 to pH 9.0 and below 80℃. The ethanol extract were showed high lipase inhibitory activity of 74.2% and acetylcholinesterase inhibitory activity of 68.4%.