Lips are part of the face that have thinner skin compared to other parts of the body, making them more susceptible to dryness and loss of moisture. Dry lips can cause discomfort, so a preparation that can help maintain lip moisture is needed. One cosmetic preparation that can be used is lip balm. Carrot (Daucus carota L.) and orange sweet potato (Ipomoea batatas L.) are natural ingredients that have the potential to be utilized as moisturizers. This study aimed to determine whether a combination of ethanol extracts of carrot and orange sweet potato could be formulated into a lip balm preparation and to determine the concentration that provides the best moisturizing effect. The study was conducted experimentally using the maceration method with 80% ethanol. The extracts were formulated at concentrations of 2%, 4%, and 6%, along with a blank formulation. The evaluation included organoleptic, homogeneity, pH, stability, irritation, spreadability, adhesion, and moisture tests. Phytochemical screening showed the presence of alkaloids, flavonoids, tannins, triterpenoids, glycosides, and saponins. In particular, flavonoids act as antioxidants that help protect the lips from free radicals. The results showed that the preparation was semi-solid, homogeneous, stable for 8 weeks, and did not cause irritation. The moisture test showed that the 6% formulation provided the best result, increasing moisture from 30% to 48% after three days of use. Based on these results, the combination of ethanol extracts of carrot and orange sweet potato can be formulated into lip balm as a moisturizer, with the 6% formulation providing the best moisturizing effect. The preparation had a spreadability of 6.5–7.0 cm and an adhesion time of 4.0–4.8 seconds, meeting the established requirements.