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The purpose of this work was to analyze and evaluate the functional properties of a new nanoemulsion that contained cordycepin. Droplet size and distribution were measured, and the stability of the nanoemulsion in different storage conditions was evaluated. We also tested skin irritation caused by the nanoemulsion, cordycepin stability in the nanoemulsion, anti-aging effect, and microbial challenge. The nanoemulsion was homogeneous with proper dispersion stability, and cordycepin was stable for eight months within the cosmetic nanoemulsion. The nanoemulsion did not irritate human hand and face skin, and the cosmetic nanoemulsion was effective in preventing microbial contamination of the product during use and storage. The new nanoemulsion containing cordycepin satisfied provisions of the 2015 Safety and Technical Standards for Cosmetics of the Ministry of Health, People’s Republic of China.