Objective: The neuroprotective and anti-inflammatory effects of Shexiang Baoxin Pill (SBP) were investigated after different extraction methods. Methods: Nerve growth factor (NGF) was used to induce the differentiation of cultured PC12 cells to establish the neurite outgrowth model. In addition, lipopolysaccharide (LPS)-induced inflammation in RAW264.7 cell was used as the inflammatory model. SBP extracts were prepared by different extraction methods, and the optimal dosages were determined by MTT assay. By the morphological analysis, the changes of neurite length were detected, and the Aβ1-42 aggregation-induced cytotoxicity of PC12 was determined by MTT. The mRNA level of inflammatory cytokine was examined by RT-PCR. Results: SBP extracts could promote neurite growth and reverse the Aβ1-42 aggregation-induced neurotoxic effect in PC12 cells (p<0.05). SBP extracts significantly inhibited the expressions of tumor necrosis factor (TNF-α) and interleukin-6 (IL-6) in RAW264.7 cells (p<0.05), except the extract of SBP by using simulated gastric fluid. Conclusion: SBP has neuroprotective potential and can attenuate the LPS-induced inflammatory responses.