A compound Chinese herbal medicine preparation for improving tilapia immunity is obtained by mixing the following components, by weight, 40% of houttuynia cordata, 5% of radix scutellariae, 5% of isatis root, 5% of fructus forsythiae, 10% of honeysuckle, 5% of liquorice, 5% of rheum officinale, 10% of astragalus, 5% of angelica sinensis and 10% of hawthorn. The compound Chinese herbal medicine preparation can remarkably improve activity of superoxide dismutase (SOD) in tilapia serum, the content of nitric oxide (NO), the activity of serum lysoyme (LSZ), phagocytic percentage, phagocytic indexand respiratory burst, greatly reduces the content of serum malondialdehyde (MDA) of tilapia, and effectively improves the tilapia immunity. Feed containing the compound Chinese herbal medicine preparation is further disclosed. The production process is simple, the compound Chinese herbal medicine preparation can be added into commodity feed directly and can not affect taste of the feed, Chinese herbal medicine raw materials used in the preparation are low in price, wide and stable in sources, and the preparation can be produced in industrialization mode.