The invention provides a traditional Chinese medicine composition having the effects of tonifying kidney, replenishing essence, tonifying qi, nourishing blood and consolidating basis, and a preparation method and application thereof. The traditional Chinese medicine composition provided by the invention is prepared from polygonum multiflorum, sealwort, prepared rehmannia root, gorgon fruit, human placenta, black sesame, astragalus membranaceus, poria cocos, Chinese yam, American ginseng, asparagus fern, radix ophiopogonis, pearl, lamber, dragon bone, cacumen biotae and black soybean. The traditional Chinese medicine composition provided by the invention is reasonable in formula, scientific in preparation method and free from toxic and side effects; all drugs in the whole formula are matched rigorously and important for each other; clearing and digesting drugs are added in great tonic drugs, so that the traditional Chinese medicine composition is tonic but not greasy; all drugs are matched for use and complementary for each other, and used for adjusting yin and yang; the traditional Chinese medicine composition provided by the invention has the effects of tonifying kidney, replenishing essence, tonifying qi, nourishing blood, consolidating basis, adjusting viscera and the like and has good curative effects to insomnia, amnesia, dizziness, tinnitus, fatigued spirit, lacking in strength, anorexia and the like; the traditional Chinese medicine composition provided by the invention can also be used for treating leukopenia and hyperlipidemia after radiotherapy and chemotherapy; in addition, the traditional Chinese medicine composition provided by the invention has the effects of improving immunity of the organism and learning and memory ability.