Objective To study the effect of Terbutaline combined with Aminophylline, Budesonide in the treatment of elderly patients with chronic obstructive pulmonary disease and the influence on pulmonary functione. Methods From January 2020 to January 2021, 70 elderly patients with chronic obstructive pulmonary disease who were admitted to People′s Hospital of Yunyang District of Shiyan City in Hubei Province were selected as the research objects, and they were divided into the control group and the experimental group by tossing coin method. The control group was treated with Budesonide and Terbutaline, the experimental group was treated with Terbutaline combined with Aminophylline and Budesonide. The pulmonary function indexes (forced expiratory volume in one second [FEV1], forced vital capacity[FVC], peak expiratory flow [PEF]), clinical effect and symptom relief time (disappearance time of lung infection, disappearance time of cough and disappearance time of rale) were compared between the two groups before and after treatment. Results The total clinical effective rate of the experimental group was 94.29%, which was higher than that of the control group (60.00%), and the difference was statistically significant (P＜0.05). There were no significant differences in the levels of FEV1, FVC and PEF between the two groups before treatment (P＞0.05). The levels of FEV1, FVC and PEF in the experimental group were higher than those in the control group, and the differences were statistically significant(P＜0.05). The disappearance time of lung infection, disappearance time of cough and disappearance time of rale in the experimental group were shorter than those in the control group, and the differences were statistically significant (P＜0.05). Conclusion Terbutaline, Aminophylline and Budesonide have better clinical effects in the treatment of elderly patients with chronic obstructive pulmonary disease, and the recovery of various indexes of lung function is better after treatment, and the treatment time is shorter, which is worth popularizing and promoting in clinical treatment.