This study focused on the favorable extraction conditions of new agricultural antibiotic 702( new anti-702) from Streptomycete 702. The mycelium from fermentation broth of Streptomycete 702 and different solvents were used. The effects of extraction temperature,pH,extraction time and solid-liquid ratio on extraction efficiency were studied and the results of single factors were further optimized by orthogonal test. The results showed that over 90%new anti-702 was obtained from the mycelium of Streptomycete 702 and ethanol was the most preferred extraction solvent. The optimum extraction temperature,pH,extraction time and flesh-solvent ratio were 30 ℃,6. 5,12 h and1∶ 2. 0,respectively. Furthermore,under these conditions,the yield of new anti-702 was 17%. Therefore,this study provides a useful method for further study on the extraction and purification technology of the antifungal substance.