Disturbed cholesterol and glucose homeostasis play crucial roles in the development of various diseases such as cardiovascular diseases, cerebrovascular diseases, central nervous system diseases, and cancer. An increasing number of studies have shown that excessive body fat accumulation is associated with type 2 diabetes or insulin resistance in a vicious cycle. This vicious cycle promotes the occurrence and development of the aforementioned diseases. Therefore, stabilizing the blood lipids and blood glucose of patients is the predominant strategy for improving the symptoms of patients with cardiovascular, cerebrovascular, and central nervous system diseases. Traditional Chinese medicine, mainly Chinese herbal medicine (CHM), has a history of more than 2000 years in China, which has established a unique theory and accumulated a great wealth of clinical experience. Moreover, CHM has been widely used in China and other countries for the treatment of cardiovascular and cerebrovascular diseases, with the advantages of preventing and curing hyperlipidemia, diabetes, hypertension, and other diseases. However, the use of CHM in Western countries remains rather limited, partly because of the incomplete understanding of multiple complex components and uncertain pharmacological mechanisms. Herein, we review and discuss the benefits, molecular mechanisms, and clinical research progress of bioactive components of CHM and their preparations as therapeutics for hyperlipidemia and hyperglycemia.