Methanol was used to extract Lovastatin from the fermentation broth of Monascus HNLI. HPLC method for determining the content of Lovastatin in the fermentation broth of Monascus HNLI was established. Samples were analyzed on the HPLC column with methanol-water(70:30)as mobile phase under the flow rate of 1.0 ml/min. The detection wavelength was 237 nm. The result showed that Lovastatin in the concentration of 10 g/mL~50 g/mL had good linearity with peak area and the correlative regression equation was Y=363.82X+25.42，R2=0.9998. The method had good reproducibility, well stability and high accuracy as well. The concentration of Monascus HNLI intracellular and extracellular lovastatin were 7.45 g/mL, 0.327 g/mL respectively.