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A composition for promoting hair growth and restoration comprising a non-polar organic solvent fraction of Chrysanthemum zawadskii var. latilobum is provided to promote the hair growth by shortening a period between interphase and a growth period of air without side effects. A composition for promoting hair growth and restoration comprises an organic solvent fraction of Chrysanthemum zawadskii var. latilobum as an effective ingredient, wherein the organic solvent fraction is a second extract fraction prepared by extracting the Chrysanthemum zawadskii var. latilobum with a first extraction solvent and then extracting the first extract with a second extraction, wherein the first extraction solvent is at least one solvent selected from the group consisting of purified water, a lower alcohol such as methanol, ethanol, isopropyl alcohol, and n-butanol, a polyhydric alcohol such as glycerol, ethylene glycol, propylene glycol, and 1,3-butylene glycol, and a hydrocarbon-based solvent such as methyl acetate, ethyl acetate, benzene, n-hexane, diethylether, dichloromethane and chloroform and the second extraction solvent is at least one selected from the group consisting of petroleum ether, methylacetate, benzene, hexane, chloroform. ethylene chloride, dimethyl ether, and ethyl acetate. A method for preparing the composition comprises the steps of: (a) washing and finely cutting stems and leaves of the Chrysanthemum zawadskii var. latilobum; (b) precipitating the cut Chrysanthemum zawadskii var. latilobum in the first extraction solvent for 1-10 days at a temperature of 18-27 deg.C; (c) filtering, concentrating and freeze-drying the first extract to obtain a dried extract of the Chrysanthemum zawadskii var. latilobum; (d) dissolving the dried extract in water; and (e) extracting the aqueous solution of the Chrysanthemum zawadskii var. latilobum with at the second extraction solvent. A hair cosmetic composition such as shampoo, rinse, ample and treatment comprises the composition for promoting hair growth and restoration. Further, the composition for promoting hair growth and restoration is one selected from liquid agent for external use, cream, ointment, paste, aerosol agent, gel and wax.