Objective: The paper is to establish a complete evaluation index system and model for the effect of centralized drug procurement policy. Methods: Literature research, expert consultation and Delphi method were used to establish the evaluation index system of the implementation effect of centralized drug procurement policy, and fuzzy analytic hierarchy process (AHP) and comparative analysis were used to establish the evaluation model, taking data of Yunnan Province as an example to conduct empirical research. Results: The evaluation index system contains 4 first-level indicators, 11 second-level indicators and 30 tertiary indicators. Among the first-level indicators, drug accessibility and drug effects weight coefficient is relatively high. Conclusion: The index system and evaluation model follow the principle of comprehensiveness, systematicness, scientificity, operability and principal component, which can provide guidance for evaluating the effect of centralized drug procurement policy in other regions.