Alzheimer’s disease (AD) is a degenerative disease of central nervous system, which seriously threatens the life and health of the elderly people. It has been for long time that Traditional Chinese medicine (TCM) treatment for AD is effective. This study analyzed the potential target and molecular mechanism of the most often used drug pair of Astragalus membranaceus and Acorus tatarinowii to treat AD by network pharmacological method. Firstly, the method was performed to screen and sort out the active ingredients with good ADME properties and drug targets of Astragalus membranaceus and Acorus tatarinowii. Then, we searched for the disease targets related to AD, followed by the construction of the “active ingredients-target-disease” network. We implemented GO enrichment analysis and KEGG pathway enrichment analysis of related overlapped target proteins, and then constructed the “target-pathway” network diagram. Finally, the above overlapped target proteins are mapped to build a PPI high-position protein interoperability network, and we conducted the network topology analysis to screen out the core targets of Astragalus membranaceus-Acorus tatarinowii drug pair in the treatment of AD. According to network pharmacology, this research predicted the potential targets of the drug pair of Astragalus membranaceus and Acorus tatarinowii in the treatment of AD, and explored that Astragalus membranaceus-Acorus tatarinowii drug pair in the treatment of AD was the overall systematic regulating action of “multiple-ingredients, multiple-target and multiple-pathway”. It affords the reference for understanding the pathogenesis of AD and exploring new therapeutic methods and drug development in the future.