The invention belongs to the technical field of medicines, and particularly relates to a traditional Chinese medicine maggot (dried larva of chrysomyia megacephala) active peptide. The invention further relates to a preparation method and application of the traditional Chinese medicine maggot active peptide. The traditional Chinese medicine maggot active peptide can be prepared by the following method of taking dry traditional Chinese medicine maggot degreased dregs; adding NaCl of which the mass is 5-8 times that of the maggot degreased dregs, stirring for 4-5 hours at room temperature, centrifuging and taking supernatant, wherein the concentration of NaCl is 1-2wt%; and adjusting pH, separating out precipitate, dialyzing, centrifuging, taking precipitate, freeze-drying to obtain traditional Chinese medicine maggot protein, preparing a solution with the substrate concentration of 7-13%, adding pepsase accounting for 0.5-1.5 wt% of the mass of the traditional Chinese medicine maggot protein, extracting at 35-40 DEG C, heating to boil, cooling, filtering, freeze-drying to obtain a product. According to the method, the resource utilization of the traditional Chinese medicine maggot is improved, the raw material cost is reduced, the degreasing step in the preparation process of the traditional Chinese medicine maggot active peptide is reduced, and the yield of the traditional Chinese medicine maggot active peptide is remarkably improved.