The purpose of this study was to investigate the effect of butanol (BuOH) fraction of Alisma canaliculatum (Ac) and/or selenium (Se) treatment on glycogen level, lipid metabolism and lipid peroxidation in streptozotocin (STZ)-induced diabetic rats. Male Sprague-Dawley rats were assigned to one of the five groups: normal, STZ-control, and three experimental groups (Ac group, Ac-Se group, and Se group). Diabetes was experimentally induced by intravenous administration of 45 mg/kg of STZ in citrate buffer. The BuOH fraction of Ac (400 mg/kg bw) was orally administered for 3 weeks. The Se group were fed a AIN-93 recommended diet mixed with Na$_2$SeO$_3$ (2 mg/kg diet). The liver glycogen level of Ac and Ac-Se groups were significantly higher, when compared with the STZ-control groups. The muscle glycogen level was not significantly differ among all groups. The levels of liver triglyceride were higher in Ac-Se group than the STZ-control group. Pancreas protein levels were significantly increased in Ac-Se group than STZ-control group. The concentration of liver malondialdehyde (MDA) was significantly decreased in Ac and Se groups and decreased in Ac-Se group. Administration of BuOH fraction of Alisma canaliculatum and selenium supplementation increased the liver glycogen and triglyceride levels, and reduced peroxidative liver damage in STZ induced diabetic rats. These results suggest that treatment with a BuOH fraction of Alisma canaliculatum in combination with selenium has no synergistic antioxidative effect. Selenium supplementation may lead a decrease MDA of liver in diabetic rats.