Abstract: This invention provides a preparation method of fermentation product of Cryptoporus volvatus (Peck) Schear and its clinical use, the said Cryptoporus volvatus (Peck) Schear is cultured on culture medium for fluid fermentation or solid fermentation to obtain mycelium of Cryptoporus volvatus (Peck) Schear, culture supernatant fluid and various metabolins, the culture medium of which contains glucose, maltose, yeast powder, peptone, inorganic salts and vitamins. The said fermentation product can be made into kinds of drug forms to prevent and treat irritability diseases, for example, bronchus asthma, allergic rhinitis, allergic gastroenteritis or ophthalmopathy which is caused by pollen, acarid, mildew or dust. Moreover, it can be used for preventing and treating cough.