The present invention provides an herbal formulation for the prevention, and treatment of smut disease in agriculture segment. The formulation comprises an aqueous extract of at least one plant selected from Aristolochia bracteata, Aristolochia bracteolata, Vitex negundo, Solatium xanthocarpum, Tamarindus indica, an aqueous extract of at least one plant selected from Clerodendrum phlomidis, Clerodendrum multiflorum, Eucalyptus spp, Ricinus communis, an aqueous extract of at least one plant selected from Lantana camara, Terminalia bellarica, Annona squamosa, Agave americana, Tephrosia purpurea and an aqueous extract of at least one plant selected from Sapindus emarginatus, Ferula asafoetida, Balanites roxburghii, Abelmoschus esculentus, Semicarpus anacardium. The invention also provides a process for preparing the disclosed formulation.