The properties and the component of HLLW (High Level Liquid Waste) were studied. The genuine saline HLLW is a blue-green liquid without any deposition. Its density and acidity are 1.399 g/ml(23±10°C) and 2.1 mol/L HNO₃, respectively. The activities of ¹³⁷Cs, ⁹⁰Sr, ⁹⁹Tc, ²³⁷Np, ²³⁹Pu, ²⁴¹Am, total a, total β, total γ are determined. The extractabilities of actinides in the genuine HLLW were examined with a five-stage cross extraction experiment. More than 98% of Pu is in Pu⁴⁺ species, and more than 70% of Np is in Np⁴⁺ species. More than 99.97% α-nuclides could be extracted by 30%TRPO-Kerosene in 1 mol/L HNO₃ from the HLLW.