A high performance liquid chromatography (HPLC) method with diode array detector (DAD) was developed and validated for multi-wavelength fingerprint profiling to evaluate the quality consistency of a Traditional Chinese Medicine, Fangfeng Pill. The validation results demonstrate that the optimized HPLC method achieves the desired linearity, precision, accuracy, LOQ and LOD. The multi-wavelength fingerprints were developed and qualitatively and quantitatively evaluated using the Ratio Fingerprint Quantification Method (RFQM). The fingerprint analysis of the marker compounds (baicalin, wogonin, glycyrrhizic acid, baicalein, paeoniflorin, gardenoside, and ephedrine) was found to reflect the content of the marker compounds in the Fangfeng Pill samples determined using the external standard method. The classical Fenton reaction was performed to assess the antioxidant activity of the Fangfeng Pill samples in vitro, which was correlated to the fingerprint components. This study demonstrates that multi-wavelength fingerprint profiling correlated the antioxidant activity offering a reliable and efficient approach to quantitatively evaluate the quality consistency of the TCM and herbal preparations.