Android applications (apps) widely use third-party libraries (TPLs) to reuse functionalities and simplify the development process. Unfortunately, these TPLs often suffer from vulnerabilities that attackers can exploit, leading to catastrophic consequences for app users. To mitigate this threat, researchers have developed tools to detect TPL versions in the app. If an app is found to use a vulnerable version, these tools will issue warnings. Although these tools claim to resist the effects of code obfuscation, our preliminary study indicates that code optimization is common during the app release process. A lack of consideration for the impact of code optimizations significantly reduces the effectiveness of existing tools. To fill this gap, this work systematically investigates how and to what extent different optimization strategies affect existing tools. Our findings have led to a new tool named LibHunter, designed to against major code optimization strategies (e.g., Inlining and CallSite Optimization) while also resisting code obfuscation and shrinking. Extensive evaluations on a dataset of apps with optimization, obfuscation, and shrinking enabled show LibHunter significantly outperforms existing tools. It achieves F1 value that surpass the best tools by 29.3% and 36.1% at the library and version levels, respectively. We also applied LibHunter to detect vulnerable TPLs in the top Google Play apps, which shows the scalability of our approach, as well as the potential of our approach to facilitate malware detection.