Hypercholesterolemia is a major risk factor for cardiovascular diseases, and probiotic intervention offers a promising alternative to pharmacotherapy. This study aimed to isolate lactic acid bacteria (LAB) with high cholesterol-lowering capacity from traditional fermented pickle brine and comprehensively evaluate their probiotic properties. LAB were isolated using MRS agar, and their in vitro cholesterol removal ability was determined by the o-phthalaldehyde colorimetric method. The selected strain was identified by morphological observation, Gram staining, and 16S rRNA gene sequencing. Probiotic characteristics, including antimicrobial activity, tolerance to simulated gastrointestinal fluids, acid and bile salt resistance, auto-aggregation, hydrophobicity, and DPPH radical scavenging activity, were systematically assessed. Twelve presumptive LAB strains were obtained, among which strain LH3 exhibited the highest cholesterol removal rate (66.71%). It was identified as Lacticaseibacillus rhamnosus based on phenotypic and phylogenetic analyses. LH3 showed strong inhibitory activity against Staphylococcus aureus (inhibition zone 25.29 mm) and moderate activity against Escherichia coli (17.85 mm). Survival rates in simulated gastric and intestinal juices were 90.23% and 98.79%, respectively. At pH 3.0, survival was 69.43%; in 0.15% and 0.3% bile salt, survival rates were 73.15% and 42.96%, respectively. Auto-aggregation was 20.67%, hydrophobicity 50.09%, and DPPH scavenging activity 68.89%. L. rhamnosus LH3 possesses excellent in vitro cholesterol-lowering ability and favorable probiotic traits, making it a potential candidate for developing functional probiotic products targeting hypercholesterolemia.