The invention provides a feed additive as well as a preparation method, an application and a corresponding feed thereof. The feed additive comprises a compound traditional Chinese medicine and other additives, wherein the compound traditional Chinese medicine comprises codonopsis pilosula, bighead atractylodes rhizome, rhizoma smilacis glabrae, liquorice, radix rehmanniae preparata, radix paeoniae alba, ligusticum wallichii, angelica sinensis, rhizoma atractylodis, mangnolia officinalis, dried tangerine or orange peel, fried endothelium corneum gigeriae galli, hawthorn, fried malt, rhizoma alismatis and carrier. The feed additive provided by the invention has the function of promoting the immunity and production performance of the pig herd in each stage, can be used for fully replacing antibiotics and also can effectively prevent and treat cad pig diseases.