In this paper, the effects of different ultrasonic pretreatment processes on the far-infrared drying characteristics, quality indexes, and microstructure of licorice are evaluated. The results showed that ultrasonic pretreatment, combined with far-infrared drying, significantly reduced the drying time and moisture content of licorice compared with those of the control group. The highest total flavonoid content was obtained at an ultrasound power of 80 W. The total phenolic content (0.686 mg gallic acid equivalent/g) was higher than that in the control group, the increase was 19.4%, and its content was the highest at the sonication frequency of 20 kHz. The antioxidant capacity tended to increase and then decrease with the increase in sonication time, sonication power, and sonication frequency, and was the highest at 30 min of sonication. The soluble sugar content (31.490 mg glucose equivalent/g) was the highest at 30 kHz and 30 min. Observation of the microstructure revealed that the surface structure of the ultrasonic pretreated licorice slices changed significantly, forming more micropore channels, which facilitated the mass heat transfer during the drying process. In conclusion, ultrasonic pretreatment can significantly improve the quality of licorice tablets and significantly reduce the time required for subsequent drying. The combination of pretreatment parameters of 60 W ultrasonic power and 40 kHz ultrasonic frequency for 30 min was found to be an optimal combination of pretreatment parameters; therefore, this study may provide a technical reference for the industrialization of licorice drying.