Central precocious puberty (CPP) severely affects children’s physical and mental health and needs to be treated promptly and effectively. This article aimed to research the therapeutic effect of Shugan Xiehuo Formula (SXF) on CPP. A female CPP rat model was established and then treated with leuprolide and different doses of SXF. Sex organ volume and index were measured. Ovaries and uteri were visualized by hematoxylin-eosin staining. The concentrations of follicle-stimulating hormone (FSH), luteinizing hormone (LH), prolactin (PRL), and estradiol (E2) in peripheral blood were determined. The expression levels of gonadotropin-releasing hormone (GnRH), gonadotropin-releasing hormone receptor (GnRHR), estrogen receptor alpha (ERα), and G protein-coupled receptor 30 (GPR30) in the hypophysis were investigated by Real-Time Quantitative Reverse Transcription PCR and western blot. GnRH expression in the hypothalamus and GnRHR expression in the ovary were detected by immunohistochemistry. SXF reduced the volume of the bilateral ovaries, as well as the volumes of the uterus, hypothalamus, and hypophysis in the female CPP rats and diminished the index of the ovary, uterus, hypothalamus, and hypophysis in the female CPP rats (
P
<
0.05
or
P
<
0.01
). SXF treatment inhibited follicle maturation and uterine wall thickening in the female CPP rats. SXF decreased the concentrations of FSH, LH, PRL, and E2 in the peripheral blood in the female CPP rats (
P
<
0.01
or
P
<
0.001
). SXF suppressed the expressions of GnRH, GnRHR, ERα, and GPR30 in the hypophysis (
P
<
0.05
), the expression of GnRH in the hypothalamus (
P
<
0.01
), and the expression of GnRHR in the ovaries (
P
<
0.001
) of the female CPP rats. Overall, our study revealed that SXF had therapeutic effects on CPP in female rats. This is worthy of promoting clinically.