Malassezia restricta is associated with many human diseases. Currently, the limited number of antifungal drugs and the rising resistance of M. restricta have prompted research into safer, and more effective antifungal alternatives. In this study, we aimed to investigate Zanthoxylum schinifolium Siebold & Zucc. essential oil (ZSEO) with respect to its chemical composition, antifungal activity, and potential modes of action against M. restricta. Linalool (34.15%), limonene (21.24%), and sabinene (10.39%) were identified to be the predominant components of ZSEO. Moreover, ZSEO showed antifungal activity against M. restricta, with minimum inhibitory concentration and minimum fungicidal concentration values of 2.5 and 10.0 mg/mL, respectively. Further, cell membrane damage assays showed that interactions between ZSEO and cell membrane resulted in increased Zeta potential and cell membrane depolarization. Moreover, ZSEO induced lipid disorder in cell membrane, resulting in increased cell membrane fluidity. Moreover, oxidative stress experiments revealed that ZSEO could inhibit cell metabolism activity, and disrupt the homeostasis of reactive oxygens species. Finally, electron microscopy analyses confirmed the morphological and ultrastructural changes of M. restricta cells. These findings support ZSEO as a potential antifungal agent to control M. restricta and prevent related diseases.