The present invention relates to a composition for topical application for preventing hair loss and stimulating hair growth having a 5α-reductase suppressant and minoxidil. The composition for topical application for preventing hair loss and stimulating hair growth according to the present invention provides equal or superior hair loss prevention and hair growth stimulation effects while using a much smaller dosage than conventional compositions which use oral 5α-reductase inhibitors and minoxidil alone or together.