The invention discloses a pharmaceutical composition for invigorating blood circulation and alleviating pain, comprising the following medicinal materials: grass-leaved sweetflag rhizome, frankincense, myrrh and plantain seed. The pharmaceutical composition has the advantages of simple process, convenience in preparation and use, remarkable curative effect, and low recurrence rate. The medicinal materials are used together so as to play roles in liver / kidney tonifying, channel warming, collaterals activating, blood circulation invigorating and pain alleviating and are used for treating osteoarthritis caused by syndromes, such as the deficiency of liver and kidney, the insufficiency of yang and the accumulation of pathogenic cold and the impulsion hysteresis of tendon and vessel. The symptoms of the osteoarthritis consist of arthralgia, shin softness, knee soreness, coldness of the body and limbs, local tenderness, joint movement disorder or arthroncus, walking difficulty, limb muscle atrophy, pale or partial purple tongue, thin or thin white fur, and weak or stringed pulse.