To address the limitations of traditional adhesive bandages such as poor air permeability, insufficient adaptability, and single function, this study developed a novel liquid bandage using rhubarb and borneol as core raw materials, polyvinyl butyral as the film-forming matrix, combined with glycerol and diethyl phthalate. The preparation process was optimized via L₉(3⁴) orthogonal experiment, with film-forming time, film adhesion, and 24-hour emodin dissolution rate as evaluation indicators to determine the optimal process parameters. The product’s film-forming performance, antibacterial activity, skin safety, and wound healing-promoting effect were systematically investigated. Results showed that the optimal process parameters were: rhubarb extract concentration of 12%, borneol concentration of 1.5%, and film-forming temperature of 45 ℃. Under these conditions, the product had a film-forming time of 3.2 ± 0.3 min, film adhesion of 3.8 ± 0.2 N, and 24-hour emodin dissolution rate of 86.7 ± 1.6%. Performance evaluation indicated that the product exhibited excellent water resistance, antibacterial activity, hemostatic effect, and high stability. This liquid bandage achieves efficient integration of traditional Chinese medicine efficacy and modern film-forming technology, holding promising application prospects in the field of wound care.