The invention relates to a process for efficiently extracting effective constituents of pepper, in particular to an extraction process for flavoring constituents and spicy constituents of pepper, which comprises the following steps: (a) raw material processing: enzymolysis and breaking wall of pepper fruits in a closed container and then smashing at low temperature; (b) extracting and separating of the flavoring constituents of the pepper: adding the pepper powder into an extraction kettle and extracting by CO2; and then sequentially analyzing in an analytical kettle I and an analytical kettle II, wherein the pressure of the analytical kettle I is 10-12MPa; and (c) extracting and separating of the spicy constituents of the pepper: slowly increasing extraction parameters; adding entrainer in the extraction kettle; and collecting spicy matters of the pepper. The process is simple and has the advantages of high efficiency, product content and yield.