The invention relates to a hot massaging ointment capable of promoting blood circulation, removing blood stasis, dredging collaterals and relieving pain. The hot massaging ointment is prepared from the following 12 traditional Chinese medicines: a rue extract, an atropa belladonna fluid extract, frankincense, myrrh, radix linderae, rhizoma chuanxiong, radix curcumae, methyl salicylate, menthol, cinnamon oil, clove oil and camphor. Besides, the invention fuehrer relates to a preparation method of the hot massaging ointment. The preparation method mainly comprises the following steps: (1) preparing a traditional Chinese medicine extraction liquid; (2) preparing an oil phase; (3) preparing a water phase; and (4) combining the phases. The hot massaging ointment is relatively suitable for treating chronic soft tissue injury. The preparation method of the hot massaging ointment has the characteristics of strong process operability, good product reproducibility and high product yield; furthermore, the prepared hot massaging ointment has the characteristics that emulsion particle diameters are relatively small and are uniformly distributed, the transdermal absorption ratio is relatively high, and the pharmaceutical effect can be adequately developed.