The invention discloses an aquatic plant compound, which comprises eight aquatic plants including zizania aquatica, lotus root, cress, gorgon fruit, arrowhead, chufa, brasenia schreberi and water chestnut. The weight ratio of zizania aquatica, lotus root, cress, gorgon fruit, arrowhead, chufa, brasenia schreberi to water chestnut is 2:2:1:2:2:2:1:2. The extraction method disclosed by the invention comprises the following steps: (1), crushing various raw materials at a high speed, and adding ultrapure water to collect a filtrate; (2), adding ultrapure water into filter residues to decoct continuously, and mixing filtrate with the filtrate collected in the step (1); (3), evaporating the mixed liquid till the weight of remained liquid is 10-18% of that of the mixed filtrate, and cooling to room temperature; (4), adding ethanol while stirring; and (5), standing and precipitating the liquid obtained in the step (4), carrying out suction filtrate to remove filtrate, collecting filter residues, washing the filter residues by using ethanol and acetone respectively once, and drying remained filter residues. Polysaccharide in the aquatic plant compound has good anti-tumor activity and low toxic and side effects, and can be used for preparing anti-tumor drugs.