The present invention discloses a Lucid Ganoderma, Lycium barbarum and Polygonatum sibiricum complex polysaccharide having efficacy for regulating tumor microenvironment, whose active components are complexed by Lucid Ganoderma polysaccharide, Lycium barbarum polysaccharide and Polygonatum sibiricum polysaccharide, the mass proportion ratio of each component is Lucid Ganoderma polysaccharide 10-250, Lycium barbarum polysaccharide 1-50, Polygonatum sibiricum polysaccharide 2-10. The Lucid Ganoderma, Lycium barbarum and Polygonatum sibiricum complex polysaccharide is high in purity and activity, has an efficacy for regulating tumor microenvironment. The present invention also discloses the preparation method of aforesaid Lucid Ganoderma, Lycium barbarum and Polygonatum sibiricum complex polysaccharide, said method is simple, stable and efficient in the process, suitable for industrial production and economic. In addition, the present invention further discloses the use of aforesaid Lucid Ganoderma, Lycium barbarum and Polygonatum sibiricum polysaccharide in the preparation of health-care food having efficacy for regulating tumor microenvironment.