In order to clarify the effect of processing methods on its hypoglycemic and hypolipidemic， 70% ethanol was used to extract active substances from raw and cooked millet， and STZ-induced type 2 diabetic rats were used to verify the results. By further extracting ethanol crude extracts， n-hexane， ethyl acetate， n-butanol and water extracts were obtained， and the antioxidant and enzyme inhibitory effects of five extracts were determined. The results showed that ethanol extract of raw millet could significantly reduce fasting blood glucose and impaired glucose tolerance in diabetic rats， and significantly increase the content of HDL in serum of rats. The ethanol extract of cooked millet had no significant hypoglycemic effect. Heating had a great influence on the antioxidant capacity of millet extracts， while the inhibitory effect of α-amylase was less. The water extract with high antioxidant capacity can promote the activity of α-amylase. The components with hypoglycemic effect mainly concentrated in n-hexane， ethyl acetate and n-butanol extraction.