Abstract: The present invention relates to a pharmaceutical composition for preventing or treating neovascular disease, including a collagen and a 34-mer pigment epithelium derived factor (PEDF) peptide as an active ingredient, more specifically, the combined administration of the collagen type I and the 34-mer pigment epithelium derived factor peptide increases the short antiangiogenic activity cycle of the PEDF and extends the dosage range of the PEDF to solve the discomfort and the side effects accordingly due to the conventional frequent injections and thus it can be applied as a therapeutic agent for various neovascular diseases.