Nonreciprocal responses of quantum matters attract recent intensive interests. With broken inversion symmetry P, it is generally expected that the response to the external field is different from that of the field in the opposite direction. This phenomenon is essential for the rectification characteristic of diode. Therefore, generation and control of nonreciprocity are of great importance to both fundamental physics and applications. A recent breakthrough in this direction is the discovery of superconducting diode effect. However, at present, the experimentally observed nonreciprocity is at most a few percent. The principle to enlarge rectification effect is highly desired to guide the design of superconducting diode. In the present paper, we study theoretically the Josephson junction S/FI/S (S: d-wave superconductor, FI: ferromagnetic insulator) on the surface of a topological insulator. We find that it can show a very large nonreciprocity, i.e., diode effect, by tuning the crystal axes of d-wave superconductors and the magnetization of FI. The difference of the maximum Josephson currents I c 's between the positive (I + c ) and negative (I − c ) directions can be about factor 2, where the current-phase relation is modified largely from the conventional one, due to the simultaneous presence of sin(ϕ), sin(2ϕ) and cos(ϕ) components with ϕ being the macroscopic phase difference between two superconductors. The predicted quality factor Q = (I + c − | I − c |)/(I + c + | I − c |) characterizing the diode effect has a strong temperature dependence and its sign is reversed by the change in the magnetization direction of FI. The enhancement of Q at low temperature stems from the Majorana bound states at the interface. This result can pave a way to realizing an efficient superconducting diode with low energy cost.