The invention discloses a process for extracting greater than or equal to 98% of ursolic acid from loquat leaf, which is characterized by the following steps: taking fresh loquat leaves or loquat leaves dried in the sun as a raw material, slicing, extracting with alcohol and filtering, concentrating and precipitating, centrifuging and filtering, dissolving in alcohol and filtering, purifying by ion exchange resin, neutralizing and concentrating, washing and drying, refining by silica gel, discoloring and filtering, concentrating and precipitating, crystallizing and vacuum drying. The invention has the advantages: (1) establishing a standard production line and associated equipment for industrial production of the ursolic acid, searching for a feasible process route, and realizing mass production of high-quality ursolic acid products; (2) solving the problem of purity of the current ursolic acid, wherein the content of the ursolic acid achieves greater than 98% of an HPLC level by analysis and detection; and (3) improving the added value of the loquat leaf and changing wastes into valuables.