An anti-inflammatory agent which comprises an oil-soluble licorice extract obtained by extraction treatment of at least either a leguminous plant of the genus Glycyrrhiza or a water extraction residue of a leguminous plant of the genus Glycyrrhiza with an organic solvent, and has at least one effect selected from an inhibitory effect on hyaluronidase activity, an inhibitory effect on hexosaminidase release (i.e., an inhibitory effect on histamine release), an inhibitory effect on platelet aggregation and an inhibitory effect on phospholipase A.sub.2 activity.