As interest in appearance increases in modern society, hair has become psychologically and socially important meaning and role. Accordingly, many studies have been conducted on therapeutic agents for alopecia and gray hair using natural substances with relatively few side effects. This study investigated the effect of essential oil extracted from Korean medicinal herb with hexane on hair growth and graying. We determined effect of herbal essential oil (OS) on hair growth compared with minoxidil (MNXD) in human hair dermal papilla cells (HDPCs). Also, effect of essential oil on melanogenesis was monitored in the mouse melanoma cells (B16F10) using α-MSH (alpha-melanocyte-stimulating hormone) as a positive control. In addition, cell proliferation was evaluated by MTT assay and cell cycle from flow cytometry in HDPCs. And expressions of hair growth-related gene (IGF-1, Wnt3a, Akt, ERK) were monitored by western blot. We assessed melanogenesis by measuring melanin contents and tyrosinase activity. As the results, cellular protein expression intensities of IGF-1, Wnt3a, Akt, ERK were increased in OS-treated group and MNXD group, compared to DW group, respectively. Also G1 phase and S phase increased in OS-treated group compared to DW group. But melanogenesis didn’t increase significantly in OS-treated group compared to DW group. These results suggest that OS from Korean medicinal herb has promotes hair growth. Therefore, it might be potential hair-promoting material to use for prevention and improvement of alopecia.