The invention relates to a method for extracting luteolin from peanut roots, stems, leaves and shells, comprising the following steps: washing materials comprising peanut roots, stems, leaves and shells, removing impurities in the peanut roots, stems, leaves and shells, and grinding the peanut roots, stems, leaves and shells subject to impurity removal; extracting by using 75% ethanol, filtering, decoloring, and concentrating at reduced pressure; precipitating by using hot water, filtering, heating filtrate, and concentrating at reduced pressure; absorbing by using KLFC-150 macroporous resin, and eluting by using 75% ethanol; concentrating elution solution at reduced pressureto obtain crude luteolin; dissolving the crude luteolin in ethanol, adding water to dilute the crude luteolin, recovering the ethanol, concentrating, crystallizing, and recrystallizing to obtain the high-purity luteolin product. The operation process is mainly characterized in that the peanut roots, stems, leaves and shells are used as extraction raw materials and are low-cost sustainable resources, the 75% ethanol is used as extraction solvent and eluent, and the product contains no toxic solvent and other residue, is safe and environmentally friendly and is low in production cost and high in yield.