This study investigated the antidiabetic activity of Salvia plebeia 70% ethanol extract (SPEE) and S. plebeia water extract (SPWE). The effects of SPEE and SPWE on adipogenesis were evaluated using 3T3-L1 adipocytes. Oil Red O staining showed that SPEE inhibited adipogenesis in 3T3-L1 adipocytes. Both SPEE and SPWE were analyzed for their total polyphenol contents (TPC), 2,2-diphenyl-1-picrylhydrazyl (DPPH) radical scavenging activities, and α-glucosidase inhibition. SPEE exhibited significantly higher TPC and DPPH radical-scavenging activities than SPWE. Next, an oral glucose tolerance test was performed to assess the potential hypoglycemic effects of SPEE in a streptozotocin (STZ)-induced diabetic mouse model. Blood glucose levels in STZ-induced diabetic mice decreased 30 min after treatment with SPEE (300 mg/kg) and SPWE (300 mg/kg). Therefore, this study provides a basis for further investigations into the clinical applications of SPEE as a preventative agent against diabetes.