The invention belongs to the technical field of traditional Chinese medicine, and provides a pill medicine treating cold, cough, excessive phlegm and chronic bronchitis and a preparation method according to the understanding mechanism of traditional Chinese medicine to cold, cough, excessive phlegm and chronic bronchitis. The pill preparation is prepared from, by mass, 4-7 g of exocarpium, 8-16 g of loquat leaves, 4-10 g of dried tangerine peel, 8-16 g of cynanchum glaucescens, 4-10 g of rhizoma pinelliae praeparatum, 8-16 g of herba schizonepetae, 8-16 g of poria cocos, 2-11 g of liquorice, 4-11 g of platycodon grandiflorum, 4.5-9 g of apricot kernels, 6-11 g of roasted perilla seeds, 5-11 g of tatarian aster roots, 4-11 g of tussilago farfara, 15-21 g of tussilago farfara, 4-11 g of fritillary bulb, 10-31 g of radix rehmanniae, 15-50 g of gypsum, 7-13 g of radix ophiopogonis and a proper amount of excipient honey. The pill preparation is good in medicine effect, quick in effect, short in treatment period, small in toxic and side effects, low in cost, capable of effectively treating cold, cough, excessive phlegm, chronic bronchitis and other diseases and particularly suitable for being clinically used.