The invention provides a radix astragali and Chinese date oral liquid the prescription of which is as follows: 200-400g of radix astragali, 100-200g of Chinese date, 150-250g of poria and 30-40g of dry caulis spatholobi paste. The preparation method is as follows:based on the four components, adding water to decoct Chinese date for 1 hour, then adding radix astragali and poria to decoct the mixture for 2 hours for the first time and then decoct the mixture for 1 hour for the second time, mixing decocted liquid, filtering, concentrating filtrate until a proper amount of filtrate is obtained, adding dry caulis spatholobi paste for evenly mixing, adding equivalent ethanol, standing, filtering, concentrating the filtrate until no alcohol odor exists, adding water until the volume of the mixture is up to about 900ml, boiling for 30 minutes, standing for 48 hours, filtering, adding 150g of stevioside, 1.0g of preservative and 0.5g of xanthan gum and adding water to regulate the total amount of the mixture to 1000ml, evenly stirring, homogenizing, packaging and sterilizing to obtain the radix astragali and Chinese date oral liquid.