Background: Rosa roxburghii Tratt fruit is extensively used as a medicinal and edible resource in China due to its unique bioactivities. In this research, we aimed to characterize its phenolic acid composition and investigate the potential hypolipidemic effect of this plant in a rat model of hyperlipidemia. Methods: We evaluated the effects of hydroalcoholic extract of Rosa roxburghii Tratt fruit (HRT) on serum lipids, body weight, activities of lipoprotein metabolism and antioxidant enzymes, and gene expression of lipid metabolism in hyperlipidemic rats. Results: HRT significantly reduced body weight gain and decreased serum and liver lipid levels in the hyperlipidemic rats. In addition, HRT treatment improved the activities of antioxidant enzymes, lipoprotein lipase, and hepatic lipase, downregulated the mRNA and protein expressions of sterol regulatory element-binding protein 1c and acetyl CoA carboxylase, and upregulated the mRNA and protein expressions of peroxisome proliferator-activated receptor α and low-density lipoprotein receptor in hepatic tissue. Conclusions: The results showed that Rosa roxburghii Tratt fruit is rich in phenolic acids, and that it exerted lipid lowering effects in the hyperlipidemic rats.