Puer tea, known for its anti-inflammatory, antioxidant, and weight-loss activities, is made by drying and fermenting bamboolike plant leaves, produced in the Yunnan area of China. During storage, tannins are oxidized, so that the bitter taste disappears, while the fragrance is maintained. Puer tea has recently been recognized as a functional food as its health benefits have gained interest. We investigated how its total polyphenol, flavonoid, and tannin contents change according to extraction time, extraction frequency, and at different time intervals after extraction. The contents of polyphenols, flavonoids, and tannins increased with longer extraction times. Additional extractions led to a decrease in total polyphenol content, but it was maintained to some extent after a certain number of extractions. This is presumably due to the presence of the lipid-soluble or insoluble polyphenols, after the initial extraction of the water-soluble ones. The total flavonoid and tannin content showed a slight decrease with the increasing number of extractions, which remained, however, within the experimental error range. This experiment showed that the total polyphenol level decreased by 26% compared to the first and second extract upon additional extractions of the puer tea, and by 67% 10 times after extraction. The results of this study indicate that the functional beverage mixed with puer tea and lactic acid bacteria exerts a strong synergistic effect.