Abstract: The root of "San Chi" (Panax major Tng and Panax japonicum. C. A. Mey.) has long been used in Chinese medicine as an analgesic, haemostatic, and antiphlogistic agent. In the present study, the toxicity of "San Chi" for the mice was found to be very low, when an aqueous extract was administered orally to mice at the dosage of 40g/kg no death was observed. Subcutaneous injection of 0.1ml egg-white, formalin, or dextran into the hind paw of normal rats caused a marked swelling of the joint, which subsided very slowly. When rats were given "San Chi" aqueous extract at the dosage of 10g/kg through a stomach tube, the swelling of the hind paw was inhibited significantly, and subsided more rapidly. In addition, it was found that "San Chi" exerted an inhibiting effect on the rat granuloma induced by cotton-pellet. On the other hand, in bilateral adrenalectomized rats "San Chi", as a rule, prevented the development of the inflammation induced by formalin. In normal rats "San Chi" did not deplete the adrenal ascorbic acid. However, in fasting normal and adrenalectimized ndce, oral administration of "San Chi" extract pro- duced significantly more liver glycogen deposition than could be accounted for by its suger content. Besides, stress condition such as that during swimming depleted the ascorbic acid content of the adrenals in the rats. However, previous administration of "San Chi" ex- tract exhibited an inhibiting effect on such depletion. In addition, "San Chi" may prolong the survival of rats after adrenalectomy. It appears from these results that "San Chi" possesses adreno-corticohormone-like ac- tivity.