The present invention discloses a pharmaceutical composition for treating cancer, comprising: (1) a herbal composition generated from Astragali membranaceus radix, Cinnamomi cortex, Paeonia alba radix, Jujubae fructus, and Zingiberis rhizoma or an extract of the above mixed herbal medicine (2) one or more chemotherapeutic compounds. The present invention also discloses use of the above pharmaceutical composition in the preparation of medicament for treating human cancer and in the preparation of medicament for reducing side effects of chemotherapeutic compounds in human body. The pharmaceutical composition of the present invention can reduce chemotherapy-induced peripheral neuropathic side effects such as limb paresthesia, pain, cold skin, formication, powerlessness and the like, increase tolerance dosages of anticancer drugs, and enhance efficacy of anticancer drugs.