The invention discloses a progesterone composite preparation for regulating and controlling estrus of a cow. The progesterone composite preparation is prepared by the following steps of: dissolving progesterone with edible vegetable oil to prepare solution, every milliliter of which contains 20mg of progesterone; dissolving estradiol with sterilized edible vegetable oil to prepare the solution, every milliliter of which contains 10mg of estradiol; and preparing the progesterone composite preparation from 75.00 to 87.50 weight percent of the solution of the progesterone, 8.75 to 10.00 weight percent of the solution of the estradiol and 2.50 to 6.25 weight percent of the edible vegetable oil. The progesterone composite preparation comprises estrogen and progesterone, is injected for regulating and controlling the estrus of the cow, and can obviously improve the estrus synchronization rate and the estrus conception rate of the cow. When used for pre-processing, the progesterone composite preparation can improve the activity of the ovary of the processed cow and the sensitivity to gonadotropic hormone so as to stimulate estrogen secretion and promote follicular development and can prevent insufficient secretion of the progesterone of the processed cow so as not to affect the sexual desire and the estrus of the cow.