Abstract: The physical properties and structure composition of FCC slurry and its extraction products were analyzed and characterized using light Daqing FCC slurry as feedstock and complex extraction solvent prepared by N, N-dimethylformamide (DMF) and anti-extractant. The results show that FCC slurry can be better separated into extract oil mainly composed of aromatics and raffinate oil mainly composed of saturates by complex solvent. The aromatics content of extract oil is 80.5% and the aromatic-carbon ratio is 73.82% under extract oil yield 58.5%. The extract oil can be used as raw materials for rubber filling oil and plasticizer, which mainly are composed of aromatics with bicyclic, tricyclic and tetracyclic. The raffinate oil can be used as FCC feedstock, which contains more than 90% saturates and almost without heteroatoms. Solvent extraction can efficiently use the low additional value FCC slurry.