The invention discloses a bone-invigorating pill and a preparation method thereof. The bone-invigorating pill comprises pilose antler, herba taxilli, ginseng, white peony root, poria cocos, achyranthes root, ligusticum wallichii, Chinese angelica, prepared rehmannia root, dragon's blood, scorpion, lumbricus, cassia bark, kadsura pepper stem, caulis sinomenii, herba siegesbeckiae, pawpaw, safflower, frankincense, myrrh, radix angelicae pubescentis, licorice root, centipede, bark of ash and herba asari. The preparation method mainly comprises crushing, pelleting by a pelleting machine, drying and packaging. The bone-invigorating pill has treatment effects of tonifying liver and kidney, strengthening tendons and bones, promoting blood circulation to remove meridian obstruction, and expelling wind and removing cold, and has good clinical effects on liver and kidney deficiency-cold and anemofrigid-damp arthralgia-caused arthralgia spasm pain, femoral head necrosis and sciatica.