The present study was carried out to investigate the physicochemical properties of hot water extracts of red ginseng powder prepared by two-stage hot air drying method using steamed ginseng and steaming liquid for 2.5 h under high-temperature and high-pressure autoclave condition. The total polyphenols, total flavonoids, total sugar, acid polysaccharides and crude saponin in hot water extracts from red ginseng powder were analyzed and determined, and the flavor components of ginseng were measured using color difference meter and an electronic tongue. The total polyphenol, total flavonoid, total polysaccharide, and acid polysaccharide of the red ginseng hot water extract obtained by autoclaving (ARG) were 9.06 mg GAE/g, 3.38 mg NE/g, 35.22 g/100 g, and 10.90 g/100 g, respectively. The final contents of the total polyphenols, total flavonoids, crude saponin were higher than those determined using other red ginseng methods; the time required for steamed red ginseng production reduced. The total ginsenoside content of ginseng including Rb1 was 10.69 mg/g, which is the lowest ARG. The processing conditions affected the conversion to ginsenosides unique to red ginseng. Red ginseng and steaming liquid obtained from the autoclave are expected to be in need for non-food materials and products as well as foods by improving the flavor components through conversion of red ginseng components into low molecular weight.