A water-soluble pharmaceutical composition containing an edaravone/cyclodextrin inclusion compound is disclosed. The composition comprises edaravone and cyclodextrin in a mass ratio of 1:9-1:60, wherein the cyclodextrin is hydroxypropyl-beta-cyclodextrin, or sulfobutylether-beta-cyclodextrin, or hydroxypropyl-sulfobutyl-beta-cyclodextrin, or a cyclodextrin mixture of the hydroxypropyl-beta-cyclodextrin, the sulfobutyl ether-beta-cyclodextrin and the hydroxypropyl-sulfobutyl-beta-cyclodextrin in any proportion. The composition is cyclodextrin/edaravone in an inclusion state. Under a condition that pH is 6.9, the inclusion stability constant Ka of the cyclodextrin/edaravone is 1331-2822 M<-1>. The composition increases the solubility of the edaravone, can be clear and stable for a long period of time, and is stable in content. The composition facilitates increase of brain tissue medicine concentrations, changes medicine distribution and enhances curative effects. The composition is low in hemolysis and non-irritating, thus facilitating improvement of pharmacy safety. The composition is easy to carry, convenient to store, simple in clinical using method, easy in operation and high in practicability. A preparing method is simple, simple and convenient in operation, low in cost and free of environment pollution.