The present invention relates to a composition for the prevention and treatment of inflammatory disease containing the extracts of Magnolia obovata or fractions thereof as an active ingredient, more precisely, a composition for the prevention and treatment of inflammatory disease containing the extracts of Magnolia obovata fruits and floral buds extracted with alcohol or alcohol aqueous solution as a solvent and active fractions isolated from the same. The extracts and fractions of the present invention inhibit lipopolysaccharide (LPS) induced nitric oxide (NO) generation significantly, have anti-inflammation activity and low cytotoxicity, and contain all of major effective components isolated from Magnolia obovata such as obovatol, honokiol and magnolol, so that they can be effectively used for the prevention and treatment of inflammatory disease.