This study was aimed to enhance the extraction yield of propolis samples using ultrasound technology, analyze the volatile compounds, and compare the antioxidant and antimicrobial effect of propolis extracts of different areas. Four propolis samples were collected from different regions of China, namely: Linqing, Shandong Province (LSP); Yingchun, Heilongjiang Province (YHP); Changge, Henan Province (CHP); and Raohe, Heilongjiang Province (RHP). The ultrasound extracts of CHP and RHP showed a higher total phenolic content (TPC) of 201.78 ± 4.60 mgGAE/g and 166.071 ± 1.53 mgGAE/g, total flavonoid content (TFC) of 519.77 ± 29.90 and 341.227 ± 10.82 mg quercetin/g respectively, as well as high antioxidant and antibacterial activity. Conventional extraction showed 15%–20% lower yield for TPC ranging from 72.02 ± 1.99 to 155.95 ± 3.69 mg GAE/g, TFC ranges from 129.675 ± 6.82 to 412.83 ± 12.14 mg quercetin/g, with lower antibacterial activity. The antioxidant activity of propolis extracts was determined by assays of reducing power, DPPH*, FRAP*, TEAC*, hydroxyl radical scavenging activity and superoxide anion scavenging activity. Collectively, the antioxidant activities of extracts from CHP and RHP were higher than those of the other two extracts(YHP and LSP). All the extracts showed high antimicrobial activity on Staphylococcus aureus, Listeria monocytogenes, and Bacillus subtilis, but no effect on Escherichia coli. A total of 150 compounds in propolis were detected by GC/MS. Terpenes (RHP 34%, YHP 5%, LSP 18%, and CHP 12%) and alcohols (RHP 12%, YHP 13%, LSP 12%, and CHP 10%) showed the highest relative content among all other extracts.