Abstract: A traditional Chinese medicine compound composition with immune bidirectional regulation effect and its preparation method and applications are disclosed. The traditional Chinese medicine compound composition with immune bidirectional regulation effect is prepared by compounding a volatile oil obtained after heating and refluxing of Schizonepetae herba and an extract jointly extracted by Schizonepetae herba extract residue, Astragali radix and Atractylodes macrocephala in the disclosure. The traditional Chinese medicine compound composition has no side effects and remarkable effect, and the traditional Chinese medicine compound composition disclosed by the disclosure can be used as a dietary supplement or health food raw material to regulate allergic reaction and low immunity. The traditional Chinese medicine compound composition disclosed by the disclosure is suitable for promotion and application.