The invention belongs to the technical field of medicine, and specifically discloses a preparation method of a compound preparation made of angelica keiskei, dendrobium officinale and Chinese wolfberry fruits, and an application of the preparation to a medicine for preventing or treating sexual dysfunction. The compound preparation is prepared by mixing angelica keiskei extractum, dendrobium officinale extractum and Chinese wolfberry fruit extractum. Experiments show that the preparation can increase the number of bestriding in sexual behavior of castrated male mice, increase the number of sperm in sexual dysfunction, and improve the contents of serum testosterone, lutropin, follicle-stimulating hormone and serotonin in individuals with sexual dysfunction. In addition, after using the compound preparation of the present invention, the tissue structure of mouse testesis is relatively complete and distinct in gradation, and more sperm cells exist. The preparation for improving sexual dysfunction of the invention has clear effective components, determined curative effect, no toxic and side effect, easy-to-implement extraction method and broad application prospect.