The present invention provides a subcutaneous injection formulation for reducing body weight. The subcutaneous injection formulation for reducing body weight comprises drug-containing micelles made of a polyoxyethylene castor oil derivative or polyoxyethylene castor oil derivatives, and a curcuminoid or curcuminoids encapsulated in the drug-containing micelles. The subcutaneous injection formulation for reducing body weight can reduce body weight and visceral fat on overweight or obese subjects, and has the advantages of low dosage, high stability, high fat tissue bioavailability, few side effects, and sustained release.