Objective To evaluate the efficacy and safety of Huo Xiang Zhengqi dropping pill in treating wind cold and dampness stagnation pattern of common cold. Methods A multicenter, randomlyized, double blind, double dummy, controlled trial was conducted. A total of 480 patients with common cold were randomly divided into two groups: a trial group (360 patients) were treated with Huo Xiang Zhengqi Dropping Pill and Huo Xiang Summer-heat Eliminating Soft Capsule analogue, while a control group (120 patients) were treated with Huo Xiang Summer-heat Eliminating Soft Capsule and Huo Xiang Zhengqi Dropping Pill analogue. The therapeutic course of both groups was 3 days. Results The therapeutic effectiveness of diarrhea as the main symptom: the marked effective rate and total effective rate of the trial group were 86.1% and 96.1%, respectively, while those of the control group were 69.2% and 84.6%, respectively; the therapeutic effectiveness of traditional Chinese medicine (TCM) pattern: the marked effective rate and total effective rate of the trial group were 87.5% and 98.5%, respectively, while those of the control group were 69.2% and 91.5%, respectively. There were significant differences between the two groups in terms of the above two indicators (Plt;0.05), which indicated Huo Xiang Zhengqi Dropping Pill was superior to Huo Xiang Summer-heat Eliminating Soft Capsule in treating wind cold and dampness stagnation pattern of common cold. No adverse effects were found in the trial group. Conclusion Huo Xiang Zhengqi Dropping Pill is effective and safe in treating wind cold and dampness stagnation pattern of common cold.