Objective: To evaluate the therapeutic outcomes and hemodynamic effects of Yiqi Yangyin Huoxue Formula combined with Conbercept ophthalmic injection in patients with non-proliferative diabetic retinopathy (NPDR). Methods: A total of 106 NPDR patients were enrolled and assigned to a control group (n=53) and an observation group (n=53) according to different treatment methods. The control group received Conbercept ophthalmic injection, while the observation group received additional treatment with Yiqi Yangyin Huoxue Formula based on the control regimen. Both groups were treated for 3 months. Comparisons were made between the two groups regarding visual acuity, Diabetic Retinopathy Severity Scale (DRSS) scores, Traditional Chinese Medicine (TCM) syndrome scores, fundus indicators [central macular thickness (CMT), number of retinal microaneurysms, and hemorrhage area], and hemodynamic parameters of the ophthalmic artery and central retinal artery [including peak systolic velocity (PSV), end-diastolic velocity (EDV), and the resistance index]. Therapeutic efficacy was assessed, and adverse reactions during treatment were recorded. Results: Compared with the control group, the observation group showed a higher overall response rate (P<0.05). After treatment, the observation group demonstrated better best-corrected visual acuity (BCVA) (P<0.05), lower DRSS scores, lower TCM syndrome scores, and reduced CMT, microaneurysm count, and hemorrhage area (P<0.05). Hemodynamically, the observation group exhibited higher PSV and EDV in the ophthalmic artery and central retinal artery, along with a lower resistance index (P<0.05). No significant difference was observed in the incidence of adverse reactions between the two groups (P>0.05). Conclusion: The addition of Yiqi Yangyin Huoxue Formula to Conbercept ophthalmic injection enhances therapeutic efficacy in NPDR, improves visual acuity and fundus pathological changes, modulates ocular hemodynamics, and demonstrates a favorable safety profile.