The by-product resulting from the production of the sea-buckthorn (Hippophae rhamnoides) juice may be a functional food ingredient, being a valuable source of bioactive compounds, such as polyphenols, flavonoids, minerals, and fatty acids. For checking this hypothesis, two extracts were obtained by two different methods using 50% ethyl alcohol solvent, namely through maceration–recirculation (E-SBM) and through ultrasound extraction (E-SBUS), followed by concentration. Next, sea-buckthorn waste (SB sample), extracts (E-SBM and E-SBUS samples) and the residues obtained from the extractions (R-SBM and R-SBUS samples) were characterized for the total polyphenols, flavonoid content, antioxidant capacity, mineral contents, and fatty acids profile. The results show that polyphenols and flavonoids were extracted better by the ultrasound process than the other methods. Additionally, the antioxidant activity of the E-SBUS sample was 91% higher (expressed in Trolox equivalents) and approximately 45% higher (expressed in Fe2+ equivalents) than that of the E-SBM sample. Regarding the extraction of minerals, it was found that both concentrated extracts had almost 25% of the RDI value of K and Mg, and also that the content of Zn, Mn, and Fe is significant. Additionally, it was found that the residues (R-SBM and R-SBUS) contain important quantities of Zn, Cu, Mn, Ca, and Fe. The general conclusion is that using the ultrasound extraction method, followed by a process of concentrating the extract, a superior recovery of sea-buckthorn by-product resulting from the juice extraction can be achieved.