The present invention relates to a liquid formulation of highly concentrated long-acting human growth hormone conjugate, comprising a pharmaceutically effective amount of the long-acting human growth hormone conjugate in which human growth hormone (hGH) is linked to an immunoglobulin Fc region, and an albumin-free stabilizer, said stabilizer comprising a buffer, a non-ionic surfactant, a sugar alcohol, and sodium chloride as an isotonic agent, and a method for preparing the same.本發明係有關一種高度濃縮之長效人類生長激素共軛物之液體製劑及其製法,該製劑包含醫藥有效量之長效人類生長激素共軛物(其中人類生長激素(hGH)係連接免疫球蛋白Fc區)與無白蛋白之穩定劑,該穩定劑包含緩衝劑、非離子性表面活性劑、糖醇、與作為等滲劑之氯化鈉。