The invention discloses a bone fracture setting ointment and method for preparing same. The bone fracture setting ointment is prepared by the following components: standard roots, Eupolyphaga, keel, crabs, wild grape root, Wu Chia Pee, alpine yallow herb, kusnezoff monkshood, Sichuan aconite root, strychnos nux-vomica, datura flower, pyrite, cassia twig, Asarum, monkshood, Eupatorium japonicum, borneol, gentiana macrophylla pall, notoginseng, buck grass, bark of eucommia, black bone, Drynaria, angelica, frankincense, myrrh, bletilla, aucklandia root, loranthus mulberry mistletoe, amber, elder, Vaseline, sesame oil, and wine. The method includes: placing the Vaseline into the wok, simmering, removing the fire and adding in benne oil and wine, and then adding the other components in the wok, stirring evenly and then spreading cool to form the bone fracture setting ointment. The invention can rapidly disperse the swelling and stop the pain, quicken the bone healing without any stimulation to the skin and any toxic side effects.