The present invention provides a cartilage regenerating composition including a fetal cartilage tissue-derived cell and an extracellular matrix derived from a fetal cartilage tissue, and a preparing method thereof.According to the present invention, the cartilage-regenerating composition may produce a three-dimensional tissue of a size suitable for use as a cartilage without a scaffold, may be easily transplantable regardless of the size and shape of the cartilage defect at the site of administration since it can be administered in the form of a gel, but has high application and adhesion, may exhibit a high binding ability to the host tissue, and may have a phenotype of mature cartilage tissue, thereby exhibiting an excellent cartilage regeneration effect.