The invention discloses a pig feed additive for improving intestinal health and boosting immunity and belongs to the field of feed additives. The additive is prepared from compound plant polysaccharide, complex enzyme preparation, lactobacillus plantarum powder, lactobacillus buchneri powder, stevia rebaudiana powder, fructus chebulae powder, orange peel powder, arginine, glutamine dipeptide, alpha-oxoglutarate, cystine, taurine and a carrier, wherein corncob powder and peanut shell powder serve as the carrier. By the adoption of the additive, pig intestinal health can be improved, intestine development of live pigs can be promoted, the feed digestibility and absorptivity of live pigs can be improved, pig growth can be promoted, marketing period can be shortened, economical benefits can be increased, and feeding effect can be improved. Meanwhile, the immunity of pigs can be improved, the morbidity of pigs can be reduced, and application prospects are quite broad.