In menopausal women, estrogen deficiency closely affects bone health. Previous studies report that MS-10, a combined extract of Cirsium japonicum and Thymus vulgaris, increases the efficiency of estrogen by activating the estrogen receptor. Here, the ability of MS-10 to enhance bone health and quality of life in women with menopausal symptoms was tested. Treatment with MS-10 induced alterations in the gene expression profile related with bone health of SaOS-2 osteoblast-like cells. MS-10 increased alkaline phosphatase (ALP) activity and osteocalcin, and reduced tartrate-resistant acid phosphatase (TRACP) activity in osteoblast-like cells. A clinical study showed that treatment with MS-10 (500 mg/day for 3 months) led to a significant decrease in ALP and osteocalcin levels. Also, women’s scores on the Menopause-Specific Quality of Life questionnaire that takes into account vasomotor, psychosocial, physical, and sexual health, improved by 18.8%. In conclusion, the herbal material MS-10 may improve menopausal symptoms, including bone health.