Disclosed herein is a pharmaceutical composition comprising at least one selected from the group consisting of a stem cell-conditioned medium and an exosome isolated therefrom as an active ingredient for prevention or treatment of an ocular disease. Containing exosomes, growth factors and neurotrophic factors at high levels and functioning to: promote retinal cell proliferation and wound recovery; protect retinal cells against oxidative stress or hypoxia; lower the increased intraocular pressure and restore the atrophy of the retinal layer and the retinal ganglion cell layer to normal levels in the glaucoma animal model; and have a protective effect on retinal ganglion cells and nerve cells, the stem cell-conditioned medium according to the present disclosure can find advantageous applications in the therapy of an ocular disease.