The invention discloses a life-prolonging traditional Chinese medicine formula which comprises the following raw materials in parts by mass: 80-110 parts of cinnabar, 90-100 parts of poria cocos, 65-80 parts of pericarpium zanthoxyli, 45-55 parts of stone fat and 110 parts of frankincense. The preparation method comprises the following steps of (1) raw material treatment: parching Cinnabaris with strong fire until it is hot, and parching with slow fire for 1-2 min; soaking Poria in saline water, and parching slightly; soaking fructus Zanthoxyli in wine, parching, and pulverizing; soaking the stone fat with vinegar, and parching; stirring Olibanum with yellow wine, placing in a sealed container, steaming over water until the wine is completely drunk, removing, parching to dry; (2) grinding: ultrafine grinding cinnabar, poria cocos, pericarpium zanthoxyli, halloysite and frankincense prepared in the step (1); making into watered pill or honeyed pill; (3) and (3) drying: the pills are contained in a plate, are spread evenly and dried in the shade, and are prevented from being irradiated by sunlight; (4) packaging and inspecting: screening and packaging the dried product in the shade. The invention can replenish essence and marrow, invigorate spleen and nourish stomach, make body building light and prolong life.