A compound for bone forming and a method for producing the same are provided using a mixture of an osteoblast and a bio-matrix. The method comprises: isolating osteoblasts from bone tissue and culturing the isolated osteoblasts to prepare an osteoblast suspension; and mixing the resulting osteoblast suspension with a bio-matrix to prepare an osteoblast therapeutic agent. A bone formation method is provided that results in no clinical graft rejection, and is capable of achieving effective and rapid bone formation via injection of a compound which has been pre-shaped to a certain extent, so as to alleviate problems associated with bone tissue formation in unwanted regions resulting from escape of injected osteoblasts from the targeted site for bone formation and then propagation thereof to other sites via the blood stream, which are caused by injection of an osteoblast suspension.