The invention relates to a pesticide composition of of flubendiamide and neonicotinoid insecticide. The pesticide composition is characterized in that active ingredients comprise a compound A and a compound B, wherein the compound A is flubendiamide, the compound B is at least one of chloronicotinyl insecticides, and the chloronicotinyl insecticides comprise imidacloprid, clothianidin, thiacloprid, dinotefuran, nitenpyram, imidaclothiz and paichongding (IPP). The weight ratio of the compound A to the compound B is 1: 50-50: 1. The insecticide composition can be prepared into common preparation formulations, such as water dispersible granules, wettable powder, suspension concentrate, granules, microcapsule suspension, microcapsule powder, dispersible oil suspension, ultra-low volume liquid, dry flowable and the like according to needs. The insecticide composition has the characteristics of obvious synergy and broad insecticidal spectrum, can effectively control various pests of a variety of crops and can be applied to the various crops, such as vegetables, fruit trees, rice, corn, soybeans, wheat, peanuts, cotton and the like, and has the advantages of high efficiency, quick acting, long acting period and the like.