The purpose of this study was to investigate the effect of chloroform(CHC1$_3$) fraction of Alisma canaliculatum All. Braun et Bouche(Ac) with selenium(Se) on the plasma glucose and lipid levels in streptozotocin(STZ)-induced diabetic rats. Male Sprague-Dawley rats were divided into five groups. The normal and diabetic rats were separated into four groups: the STZ-control group, the Ac group, the Ac-Se group and the Se group. Diabetes was induced in the male rats by an injection of STZ into the tail vein at a dose of 45 mg/kg. The CHCl$_3$fraction of Ac(250 mg/kg) was administered orally for 14 days. The supplementation was achieved with the AIN-93 recommended diet by adding 2 mg/kg diet of selenium as Na$_2$SeO$_3$. which was prepared freshly everyday. The body weight, hematocrit(Hct), glucose, insulin, cholesterol, HDL-cholesterol, triglyceride(TG) and free fatty acids(FFA) concentrations in plasma were measured. The aminotransferase activities were also analyzed. The changes of body weight in the experimental groups were not significantly different from that of the STZ-control group, but diabetes hyperphagia accompanied changes with body weight loss in Ac-Se group. The levels of Plasma cholesterol were not significantly different among the experimental groups. The concentrations of FFA in the Ac-Se group increased significantly compared with the STZ-control group. The effect of Se alone significantly increased aspartate aminotransferase activity and alanine aminotransferase activity. The results showed that the treatment of CHCl$_3$fraction of Ac in combination with Se has no synergistic effect. There was a tendency for the plasma glucose levels to decrease when Se was administered into diabetic rats. Supplementation of Se in diabetic rats did not elicit a significant increase in plasma insulin levels and exhibited hypotriglyceridemic effect.