The present invention relates to a traditional Chinese medicine composition for treating prostate cancer and its preparation method and application. The composition is prepared from Ganoderma lucidum, Scutellaria baicalensis, Rabdosia rubescens, Panax notoginseng and Glycyrrhiza as raw materials in a weight ratio of 2-3:1-2:1-2:0.5-1.5:0.5-1.5 and prepared by mixed extraction or object extraction. The present inventions simplifies the prescription of the composition, is conducive to quality control, and reduces production cost, while the product curative effect remains unaffected, thus has a good application prospect.