To observe the clinical effect of Qilin pill combined with spironolactone for treating women with polycystic ovarian syndrome (PCOS), and to explore their influence on the levels of related factors of women with PCOS. Methods: 94 women with PCOS were selected and were divided into control group and observation group according to random number table method from February 2018 to April 2019. 47 women in the observation group were given Qilin pill combined with spironolactone for 3 months, and 47 women in the control group were given spironolactone only for 3 months. The clinical effects of women in both groups were evaluated. Results: After treatment, the total effective rate of women in the observation group (93.6%) was significant higher than that (78.7%) of women in the control group (P＜0.05). The levels of serum progesterone and follicle stimulating hormone, and total antioxidant capacity of follicular fluid of women in the two groups had increased significantly, but their levels of serum luteinizing hormone and testosterone, and their levels of malondialdehyde, nuclear factor-κB, transformed growth factorβ1, and vascular endothelial growth factor in follicular fluid had decreased significantly, and the changes of which of women in the observation group were significant better than that of women in the control group (all P＜0.05). There was no significant difference in the incidence of adverse reactions during treatment between the control group (6.4%) and the observation group (4.3%) (P>0.05). Conclusion: Spironolactone combined with Qilin pill for treating women with PCOS can significantly improve their clinical symptoms and signs, improve curative effect, reduce their oxidative stress response, and there is no obvious adverse reactions.