The invention discloses an eucommia ulmoids leaf water and / or low alcohol extract and preparation method and application thereof, which comprise crude extracts and refined eucommia ulmoids leaf extracts, wherein the crude extracts are extracted from folium cortex eucommiae through water or low alcohol, or are obtained by mixing and extracting the water and the low alcohol, and the refined eucommia ulmoids leaf extracts are obtained after the crude extracts are refined. The eucommia ulmoids leaf water and / or low alcohol extract has obvious effect in application of preparing drugs for promoting fracture healing. The eucommia ulmoids leaf water and / or low alcohol extract can obviously increase alkaline phosphatase, reduces blood calcium, increases serium inorganic phosphorus, increases bone mineral density, and can obviously promote healing of bones after fracturing. Furthermore, medicinal parts of eucommia ulmoids plants can be increased by developing application of extracts of the eucommia ulmoids leaf extracts, the application range of the eucommia ulmoids plants is enlarged, because the eucommia ulmoids leaf is easier to be obtained than eucommia ulmoids skins, the cost of eucommia ulmoids can be reduced.