These studies were carried out to characterize the physiological functionalities of Codonopsis lanceolata, Cornus officinalis, and their mixtures. We investigated the antioxidative, fibrinolytic, and ${alpha}$-glucosidase inhibitory activities of them. The antioxidative activities of Codonopsis lanceoiata and Cornus officinalis were 87% and 90%, respectively. Addition of salt to Codonopsis lanceolata and Cornus officinalis did not affect its antioxidative activities. In spite of fourfold addition of Codonopsis lanceolata to Cornus officinalis, the antioxidative activity was conserved at 90%. The fibrinolytic activities of Codonopsis lanceolata and Cornus officinalis were 0.78 plasmin unit/ml and 1.74 plasmin unit/ml, respectively. Addition of salt decreased the fibrinolytic activities of both Codonopsis lanceolata and Cornus officinalis. A mixture (3:1) of Codonopsis lanceolata and Cornus officinalis exhibited a 21% increase in activity. The ${alpha}$-glucosidase inhibitory activities of Codonopsis ianceoiata and 100-fold diluted Cornus officinalis were 25% and 73%, respectively. The addition of salt to Codonopsis lanceolata and Cornus officinalis slightly decreased their ${alpha}$-glucosidase inhibitory activities. According to the addition of Cornus officinalis to Codonopsis lanceoiata, the ${alpha}$-glucosidase inhibitory activities of the resulting mixture were highly increased. We anticipate that these results will be used as basic data for the development of new bifunctional foods.