The invention relates to the field of natural pharmaceutical chemistry and particularly discloses a preparation method and application of a high-purity compound notoginsenoside ST-4 (C47H80O17). The preparation method comprises the following steps: dissolving notoginseng leaf triterpenes with an aqueous solution of glacial acetic acid and adding a certain quantity of pyrrole; then preparing the notoginsenoside ST-4 by utilizing a water bath reaction, so as to greatly improve yield and purity of the product. Experiment research shows that the obtained notoginsenoside ST-4 has purity of over 98%, and the adopted process is simple to operate, easy to operate, economical, environmental-friendly and suitable for industrial production. Application of the notoginsenoside ST-4 in the aspects of aclinical medicament and health care can be promoted, and new use of the application of the notoginsenoside ST-4 to preparation of a medicament and health care product for preventing renal injury caused by cisplatin is provided.