The chemical constituents of Cortex Moutan charcoal were studied in depth, and their coagulation activity was screened. The chemical constituents were isolated by polyamide, silica gel and Sephadex G-Sepharose chromatography purification,and their structures were identified by NMR spectroscopy and other analyses. A total of 10 compounds were obtained and identified as follows: 3-(2-furan)-1-(2-hydroxy-4-methoxy-phenyl)-2-propylene ketone (1), 2-(2,5-hydroxy-4-methyl phenyl) propionate ethyl ester (2), methyl tetradec-5-enoate (3), 1,4-diethylcyclohexane (4), catechol (5), methyl-4-hydroxybenzoate (6), 3-hydroxy-2-methyl-4-pyrone (7), 3,8-dihydroxy-2-metyl-chromone (8), 3β-hydroxy-olean-12-en (9), 1-monolinolein (10). Among them, compounds 1 and 2 were new natural products, and 3–10 were isolated from the Cortex Moutan charcoal for the first time. The potential coagulation activities of compounds were evaluated, and compounds 2, 9 and 10had strong hemostatic effects. While compounds 1 and 8 could significantly activate blood circulation.