The invention discloses an insecticidal composition containing metarhizium anisopliae and cyromazine and a preparation method and application of the insecticidal composition.According to the insecticidal composition, metarhizium anisopliae and cyromazine serve as basic active ingredients, and metarhizium anisopliae conidia (piece) and cyromazine (gram) are mixed according to the ratio of (49-1) *2 *1010:(1-49).Wet powder, water dispersible granules and an oil suspending agent can be prepared after auxiliary materials are added to the active ingredients.The insecticidal composition can be used for preventing and treating pests such as scale insects, trialeurodes vaporariorum, thrips, grubs, wireworms, citrus fruit flies, liriomyza sativae, root maggots and Bradysia odoriphaga Yang et Zhang, is especially suitable for preventing and treating diptera pests such as citrus fruit flies, liriomyza sativae, root maggots and bradysia odoriphaga, and has the advantages of being stable in pesticide effect, good in fast-acting property, long in lasting period, safe, environmentally friendly and the like.