Abstract: Provided is a GABAA receptor agonist phenol derivative that has a novel structure and better efficacy, can effectively reduce side effects, and is safer for clinical use. Specifically disclosed are a compound as represented by the following formula (I), a stereoisomer and pharmaceutically acceptable salt thereof, a pharmaceutical composition containing same, and an application of the compound or composition of the present invention in the central nervous field, thereby providing more and better choices for medicaments for inducing and/or maintaining anesthesia in animal or human bodies, facilitating sedation and hypnosis, and treating and/or preventing anxiety, nausea, vomiting, migraine, convulsion, epilepsy, neurodegenerative diseases, and central nervous system-related diseases.