This study was carried to establish a simple isolation and purification method of ginsenoside $F_1$ from leaves of Panax ginseng and was to evaluate the inhibitory effect of purified ginsenoside $F_1$ on the activities of elastase and tyrosinase. The content of ginsenoside $F_1$ was 90-fold higher in leaves than in root of ginseng. Ginsenoside $F_1$ was isolated from EtOAc fraction between EtOAc and alkalized water of 80% EtOH extract after remove of hydrophobic components. The 50% inhibitory concentration ($IC_{50}$) of ginsenoside $F_1$ on elastase activity and tyrosinase activity was 1.07 mM and 1.81 mM, respectively. Especially, inhibitory effect of ginsenoside $F_1$ on tyrosinase activity was higher than that of arbutin ($IC_{50}$; 2.20 mM). These results indicate that ginsenoside $F_1$ have a potential for industrial cosmetic materials.