Our research group successfully designed the F. carica and Taxus cuspidata Sieb. et Zucc mixed forest, and confirmed that their interspecific relationship was stable and F. carica has a promoting effect on neighboring T. cuspidata growth. However, the promoting mechanism has not been elucidated. In this study, F. carica was used as the donor plant and T. cuspidata was used as the recipient plant. T. cuspidata seedlings were irrigated with F. carica root extracts of different concentrations (10.0, 20.0, 40.0 g·L−1), and the plant height, base diameter, photosynthetic parameters, photosynthetic pigments, MDA contents, and antioxidant enzyme activities were measured. Soil physical and chemical properties, enzyme activities, and microbial diversity were measured. The results showed that the abundance of growth-promoting bacteria increased and the number of pathogenic bacteria decreased in the rhizosphere of T. cuspidata soil. It was speculated that the chemicals secreted by F. carica roots interacted with soil microorganisms of T. cuspidata soil after enrichment, changed soil microbial diversity, and indirectly promoted the growth of T. cuspidata. UPLC-QTOF-MS/MS was used to analyze F. carica root water extract and F. carica root exudates, respectively, and it was found that the main components were similar. Therefore, the promoting effect of F. carica on T. cuspidata is mainly caused by the accumulation of potential chemicals in F. carica root exudates in the soil through interaction with soil microorganisms. Furthermore, the allelopathic-promoting mechanism of F. carica on T. cuspidata was discussed from various aspects, to provide a theoretical basis for the protection, breeding, and sustainable management of T. cuspidata resources.