In this paper, a comparative study of the physicochemical characteristics and antioxidative effect is made between Lycium Ruthenicum Murr.(LRM) and Lycium Barbarum L.(LBL). Both LRM and LBL are the solanaceae and they are ingredients for drug and diet. The experimental results of the ash, crude fat and crude protein content are as follow: LBL contains more crude fat and crude protein than LRM. However, LRM contains more ash than LBL. After measuring the content of Fe, K, Mg, Mn, Na, Se, Zn, Cr and Cu, the results demonstrate that the content of Fe is highest, Cr and Cu haven’t been detected, LRM contains more K and Mg than LBL and that other mineral elements are similar in their content. In the total sugar content measurement, testing results of LRM and LBL are similar. The testing result also gives a clue that the content of Vitamin C in LBL is seven times that of LRM. In the experiment, two kinds of extraction methods are used to extract both LRM and LBL. The methods are water extraction of Lycium Barbarum (WLB), water extraction of Lycium Ruthenicum (WLR), 70% ethanol extraction of Lycium Barbarum (ELB) and 70% ethanol extraction of Lycium Ruthenicum (ELR). Besides, the results show that the anthocyanin content in LRM is 119 times that of LBL and that the carotene content in LRM is 53 times less than that of LBL. The results of LRM extract in different pH values(2, 4, 6, 7, 9, 11) are as follow: when pH value is below six, the color is closer to red; when pH value is 6, it turns to purple; when pH value is above 6, the color is closer to blue. The main range for the maximum absorbance of LRM extract in different pH values is between 530 nm and 590 nm. The results of LBL extract in different pH values(1, 2, 4, 6, 8, 11, 12) are as follow: when pH value is below four, the color is closer to transparent color; when pH value is above four, the color is closer to light yellow. The main range for the maximum absorbance of LBL extract in different pH values is between 440nm and 451nm. In addition, seven different antioxidative substance content and effect including total flavonoids contents, total phenolic acids contents; electron donating ability, SOD-liked activity, ABTs radical scavenging activity, hydroxyl radical scavenging activity and reducing power activity are used to measure the antioxidant activity. Only in hydroxyl radical scavenging activity, LBL has a better oxidation resistance than LRM, nevertheless, in the rest experiments, the results show that LRM has better oxidation resistance than LBL. In the layers extraction experiment, layers are in the following order: choloform, n-hexane, ethyl ether and acetone. The concentrations are diluted into 1000 ppm to test oxidation resistance. In SOD-liked activity and ABTs radical scavenging activity, LBL has a better oxidation resistance than LRM. In other experiments, however, the results show that LRM has better oxidation resistance than LBL. In conclusion, there have been enormous research proving that LBL has good antioxidant capacity. However, the results of this experiment show that LRM has better oxidation resistance than LBL. Therefore, LRM can be considered as new materials to manufacture health care products, cosmetics and drinks in the future.