Disclosed is a herbal composition comprising a first hot-water extract from a mixture of the plants Angelicae gigantis Radix, Cnidium officinale Makino and Paeonia japonica Miyabe et Takeda at an equal weight ratio, and a polysaccharide fraction as a precipitate formed by adding ethanol to a second hot-water extract from a mixture of the plants Angelicae gigantis Radix, Cnidium officinale Makino and Paeonia japonica Miyabe et Takeda at an equal weight ratio. The herbal composition of the present invention is effective in improving the anticancer activity, immune response and hematopoiesis of the body, and protecting the body from oxidative damage. Therefore, by stimulating the recovery from the damage to the immune function and hematopoietic function, often occurring during chemotherapy and radiotherapy, and inhibiting oxidative damage, the herbal composition can be applied for the prevention of the side effects of cancer therapy, as well as for the prevention of various degenerative chronic diseases and the improvement of the health of the weak and the elderly.