A high-performance liquid chromatographic (HPLC) method was developed for quantitative analysis of seven components, 5-hydroxymethyl-2-furaldehyde (1), albiflorin (2), paeoniflorin (3), liquiritin (4), ferulic acid (5), nodakenin (6), and glycyrrhizin (7) of Palmul-tang (PMT), a traditional Korean medicine. HPLC analysis was performed using a Gemini C18 column at $40^{circ}C$, and photodiode array (PDA) detection at 230 nm, 254 nm, 280 nm, 320 nm, and 330 nm was used for quantification of the seven components in PMT. The mobile phase was a gradient flow composed of two solvent systems. Solvent A was 1.0% (v/v) aqueous acetic acid and solvent B was acetonitrile containing 1.0% (v/v) acetic acid. Calibration curves were acquired with $r^2$ values > 0.9998, and the relative standard deviations (RSDs, %) for intra- and inter-day precision were both less than 6.0%. The recovery of each component was in the range of 90.66-103.79%, with a RSD less than 5.0%. The contents of the seven components in PMT range form 0.61-6.21 mg/g. Additionally, we investigated the cytotoxicity of the extract against the RBL-1 and BEAS-2B cell lines, as well as splenocytes.