The invention relates to a thymus plant extract or composition and application thereof. The preparation method comprises the following steps: firstly quenching active pharmaceutical ingredients with acetone; performing acidification by use of H2SO4 with certain concentration; extracting the extracting solution with ethyl acetate for 2-3 times, thereby obtaining a thymus plant extract containing carvacrol, tanshinol, scutellarein, scutellarin, 5,4'-dyhydroxyl-6,7,8-trimethoxy flavone, oleanolic acid and rosmarinic acid. The thymus plant also provides a traditional Chinese medicine composition for treating cardiovascular and cerebrovascular disease. The traditional Chinese medicine composition is prepared from the following active pharmaceutical ingredients in parts by weight: 200-500 parts of thymus plant, 100-300 parts of curcuma roots, 100-300 parts of rhizoma sparganii, 200-400 parts of radix angelica sinensis, 100-200 parts of ginkgo leaves, 100-200 parts of licorice root, 200-400 parts of radix codonopsis pilosulae and 200-500 parts of rhizoma ligustici wallichii. The traditional Chinese medicine composition is rapid in medical effect taking and less in toxic and side effects, thereby being a favorable medicament for treating cardiovascular and cerebrovascular diseases.