Objective To observe the clinical efficacy of catgut embedment combined with moxibustion and bloodletting in the treatment of androgenic alopecia and to probe into its therapeutic mechanism. Methods Eighty-four patients with androgenic alopecia were divided into catgut embedment group (group A) and western medicine group (group B) on the basis of random number table and according to the order of treatment. For the pateints in group A, Shenguan (肾关) on both sides, Minghuang (明黄) and Zusanli (足三里 ST 36) were selected to receive catgut embedment therapy, once every month, combined with moxibustion on the lower abdomen and local bloodletting treatment. For the patients in group B, finasteride 1mg/d was orally administrated. The treatment period for two groups was 3 months, and the follow-up visit lasted for 3 months. Serum testosterone (T) and estradiol (E2) contents were detected respectively before treatment, after i month and 3 months of treatment and after 3 months of follow-up visit, and the specific values were calculated to make statistical analysis of T, E2, T/E2 and curative effects of the two groups after i month and 3 months of treatment and after 3 months of follow-up visit. Results There was no statistical significance in curative effect between the two groups after i month of treatment (P〉0.05), and the curative effect in group A were better than that in group B after 3 months of treatment or after 3 months of follow-up visit (both P〈0.05); E2 level in group A was lower than that in group A after 3 months of treatment (P〈0.05); T, E2 and T/E2 in group A were all lower than that in group B after 3 month of follow-up visit (all P〈0.05). Conclusion The curative effect of treating androgenic alopecia with catgut embedment, moxibustion and bloodletting is definite, and its mechanism of action may be related to the reduction of T levels and T/E2 values.