Objective:　The　lyophilized　pilose　antler　water　extract　(PAE)　was　isolated,　and　their　cell　proliferation　on　PC12　cells　was　observed.　Methods:　S-200　Size-exclusive　gel　and　DEAE　negative　ion-exchange　liquid　chromatograph　were　employed　to　fractionate　the　PAE.　SDS-PAGE　was　employed　to　analyze　the　proteins　composition　of　PAE.　The　protein　concentration　was　determined　by　Folin-Phenol　assay.　The　proliferation　rates　of　PC12　cells　were　measured　by　MTT　assay.　Results:　The　proliferation　rate　of　PAE　on　PC12　cells　at　13.3　mg/mL　was　47%　(P＜0.01).　PAE＇s　protein　content　is　84.2%.　The　PAE　was　fractionated　and　obtained　two　active　fractions:　S200-P2　and　DEAE-P1,　whose　cells　proliferation　rates　were　46%　(97.0　μg/mL,　P＜0.01)　and　111.5%　(51.0　μg/mL,　P＜0.001),　respectively.　DEAE-P1　mainly　had　proteins　of　Mr　56　000　and　higher　than　Mr　100　000　molecular　weight.　Conclusion:　The　cell　proliferation　of　PAE　and　its　chromatographic　fraction　indicate　that　this　fraction　may　attribute　to　pilose　antler＇s　never　growth　factor-like　activity.