Plant seed oils and extracts are widely used in cosmetic industry to provide the skin with a variety of benefits. Due to the paucity of bioactivity studies on Lycium barbarum and its skin care applications, Lycium barbarum seed oil (LBSO) was utilized to create stable oil-in-water emulsions, and Lycium barbarum fruit extract (LBE) was used as a functional ingredient in cosmetic formulations We optimized the biological activity, storage stability, and physicochemical properties of LBSO when added to O/W emulsions (antioxidant, anti-tyrosinase, and anti-aging). The LBE emulsion [15 % L. barbarum seed oil (F3) and 1 % LBE] showed the highest physical and storage stability (pH 6.02). TPC and TFC had respective values of 2.146 ± 0.013 mg Gallic acid equivalent (GAE)/g and 1.099 ± 0.012 mg Rutin equivalent (RE)/g. For anti-aging purposes, LBE emulsion could inhibit hyaluronidase (44.74 ± 2.05 %), elastase protease (26.59 ± 2.56 %), and melanogenesis (34.35 ± 1.77 %). Overall, our current findings speculate the development of anti-aging cosmetic products using L. barbarum.