Microwave assisted extraction(MAE) is known as a more environmental friendly process with economic advantages in terms of less time, less solvent, less energy and less wastes than the current time consuming reflux method. It was applied to develop a rapid extraction method for soluble ginseng components that are major materials used for the processing of ginseng products. In a comparative study between pre established MAE(ethanol 60%, power 80 W, process time 4 min$ imes$5) and current extraction method(ethanol 80%, temp. 85oC, time 8 hr$ imes$5), MAE was more efficient than the current method to obtain an extract yield(soluble solid), but it was insufficient to extract individual ginsenosides, total phenols, reducing components and acidic polysaccharides. MAE with 80% ethanol by 5 times showed, however, that its extraction efficiency on soluble solid, crude saponin, major ginsenosides, and the other components was equal or superior to that of the current method, indicating that ethanol concentration is one of the critical parameters influencing the MAE process. The quality of ginseng extracts from MAE was assured by evaluating the corresponding standards and by comparing TLC and HPLC patterns with the control.