The rhizoma of Polygonatum odoratum (Liliaceae) promotes the production of body fluid and relives dryness symptoms and has hypoglycemic effect. In order to evaluate the prevention of lipid peroxidative efficacy of P. odoratum, its extracts (Et$_2$O and MeOH ex.) and its fractions ($H_2O$, 20％ MeOH, 40％ MeOH, 60％ MeOH and 100％ MeOH fr.) were measured by TBARS assay on rat liver S9 and human erythrocyte ghost membrane. The order of anti-lipid peroxidative effect was as follows: Et$_2$O ex. ＞40％ MeOH fr. ＞60％ MeOH fr.＞100％ MeOH fr. Based on these results, we conclude that membrane lipid peroxidation is inhibited in vitro by addition of P. odoratum ether extract and its gradient MeOH fractions excepts $H_2O$ fr., and which have significant hepatoprotective activity in $CCl_4$-treated rats.