uses
ShlObj, ActiveX;

function GetIEFavourites(const favpath: string): TStrings;
var
searchrec: TSearchRec;
str: TStrings;
path, dir, FileName: string;
Buffer: array[0..2047] of Char;
found: Integer;
begin
str := TStringList.Create;
// Get all file names in the favourites path
path := FavPath + '\*.url';
dir := ExtractFilepath(path);
found := FindFirst(path, faAnyFile, searchrec);
while found = 0 do
begin
// Get now URLs from files in variable files
Setstring(FileName, Buffer, GetPrivateProfilestring('InternetShortcut',
PChar('URL'), nil, Buffer, SizeOf(Buffer), PChar(dir + searchrec.Name)));
str.Add(FileName);
found := FindNext(searchrec);
end;
// find Subfolders
found := FindFirst(dir + '\*.*', faAnyFile, searchrec);
while found = 0 do
begin
if ((searchrec.Attr and faDirectory) > 0) and (searchrec.Name[1] <> '.') then
str.Addstrings(GetIEFavourites(dir + '\' + searchrec.Name));
found := FindNext(searchrec);
end;
FindClose(searchrec);
Result := str;
end;

procedure FreePidl(pidl: PItemIDList);
var
allocator: IMalloc;
begin
if Succeeded(SHGetMalloc(allocator)) then
begin
allocator.Free(pidl);
{$IFDEF VER100}
allocator.Release;
{$ENDIF}
end;
end;

//例子
procedure TForm1.Button1Click(Sender: TObject);
var
pidl: PItemIDList;
FavPath: array[0..MAX_PATH] of Char;
begin
if Succeeded(ShGetSpecialFolderLocation(Handle, CSIDL_FAVORITES, pidl)) then
begin
if ShGetPathfromIDList(pidl, FavPath) then
ListBox1.Items := GetIEFavourites(StrPas(FavPath));
// The calling application is responsible for freeing the PItemIDList-pointer
// with the Shell's IMalloc interface
FreePIDL(pidl);
end;
end;