The invention discloses a Chinese medicine for a medical polymer elastic bandage and a preparation method of the Chinese medicine composition. The Chinese medicine consists of the following components, in parts by weight: 6 parts of black soya bean, 12 parts of oncorhynchus mykiss bone, 16 parts of common curculigo rhizome, 12 parts of fructus kochiae, 7 parts of trogopterus dung, 10 parts of woodear, 3 parts of alpha-butyl cyanoacrylate, and 22 parts of water. Black soya bean, oncorhynchus mykiss bone, and wood ear are washed and dried, and then are grinded into powder. A 10-mesh sieve is used for screening, the screened mixture is added into water to dissolve, then the solution is subjected to ultrasonic vibration and drying again, and then a 20-mesh sieve is used for further screening.Common curculigo rhizome, fructus kochiae, and trogopterus dung are washed and dried, and then are grinded into powder, and a 20-mesh sieve is used for screening. The screened mixtures are both addedinto water, first stirring is conducted, and finally alpha-butyl cyanoacrylate is added, and then stirring is conducted for a second time. The stirred mixture is added to a ball mill to grind again for 22 minutes by adjusting the rotation speed, and then the composition is taken out. The Chinese medicine composition for the medical polymer elastic bandage of the invention has the advantages of low production cost, anti-inflammatory and analgesic effect, and effects of promoting blood circulation and removing blood stasis, improving repair enzyme activity and promoting calcium and phosphorus deposition at fracture ends.