The invention relates to a Canarium album functional food with hypolipidemic and hypoglycemic effects and a preparation process of same. The functional food is made from Canarium album and balsam pear as major materials, in addition of medicinal and edible natural herbs which are approved by the country; and the nutrients and active factors are extracted from the materials and processed by the conventional granulation process to make solid granules. The functional food is made from the following raw materials in parts by weight: 3 to 18 parts of Canarium album, 1 to 10 parts of balsam pear, 1to 5 parts of Astragalus membranaceus, 0.5 to 2 parts of Salvia miltiorrhiza, 0.5 to 2 parts of Rhizoma ligustici Chuanxiong, 0.3 to 1 part of Chicken's gizzard-membrane, 1 to 5 parts of Dioscorea opposita, 1 to 5 parts of hawthorn, 1 to 5 parts of Lycium chinesis, 0.5 to 2 parts of Rhizoma Polygonati and 2 to 10 parts of mulberry leaves. The raw materials are nontoxic to human body and no non-edible chemical is added during the preparation process, so that the functional food is harmless to human body and is green and safe. The product has the effects of promoting blood flow, removing blood stasis, invigorating spleen, promoting digestion, moistening the lung, promoting production of body fluids, nourishing yin, removing heat, soothing throat and liver, tonifying the kidney, reducing lipid level and reducing body weight, can improve metabolic functions of human body and regulate blood lipid level, blood sugar level and blood pressure, has calcium supplement and hematinic functions, is applied to food therapy for health preservation, can be used for preventing and treating type II diabetes mellitus and cardiovascular diseases, and can be further developed to anti-diabetic Chinese medicines. Therefore, the invention has high development and application values.