The present invention provides a composition for alleviating and preventing Alzheimers disease. This composition comprises at least one yellow pigment extracted from a red mold product, and the said yellow pigment is Monascin or Ankaflavin. Moreover, after completing a variety of experiments, the composition has been proved possessing effects on alleviating and preventing AD by alleviating the symptoms of memory loss and learning disability resulted from the β-amyloid accumulated in brain of rats as well as reducing the inflammation and the oxidative stress caused by the β-amyloid in cerebral cortex and hippocampus tissue. Therefore, the experimental results have proved that this novel composition is indeed able to treat and prevent Alzheimers disease.