Objective To study the effect of adipose-derived stem cells-derived exosomes on the proliferation、 migration and angiogenesis of human microvascular endothelial cell (HMEC-1). Methods Adipose-derived stem cells (ADSCs) were obtained by separating and purifying isolated fat and cultured in vitro. The supernatant was collected and ADSCS-EXO was isolated and extracted. HMEC-1 was cultured in vitro and divided into experimental group (including ADSCs-Exo) and control group. Cck-8 was used to evaluate the effect of ADSCs-Exo on the proliferation of HMEC-1. The effect of ADSCs-Exo on the migration ability of HMEC-1 was evaluated by scratch test and Transwell test. The effect of ADSCs-Exo on vascular endothelial growth factor (VEGF) in extracellular fluid of HMEC-1 was evaluated by ELISA. The effect of ADSCs-Exo on angiogenesis of HMEC-1 was evaluated by tubule formation experiment. Western blot was used to evaluate the effect of ADSCs-Exo on the expression of HMEC-1 Ras, Raf, ERK1/2 and VEGF-related proteins. Results The isolated ADSCs-Exo conformed to the characteristics of exosomes. In vitro experiments showed that co-culture with ADSCs-Exo could significantly promote the proliferation, migration and angiogenesis of HMEC-1, increased the level of VEGF (P＜0.05), and increased the expression of proteins related to RAS/RAF/ERK signaling pathway (P＜0.05).Conclusion ADSCs-Exo can promote the proliferation, migration and vascularization of HMEC-1, and the mechanism may be related to RAS/RAF/ERK signaling pathway