Disclosed is a stable pharmaceutical formulation, comprising a fusion protein in which the extracellular ligand-binding domain of a human p75 tumor necrosis factor receptor is fused to the Fc domain of human IgG and a succinate buffering agent, without comprising a stabilizer. The stable pharmaceutical formulation enables the long-term storage of the TNFR-Fc fusion protein formulation and can exhibit superior storage stability without the need for demanding storage conditions, and is a simple formulation because no stabilizer is comprised therein and is thus more economical than other stabilizer-comprising formulations.