Objective: To conduct a pharmacoeconomic evaluation of anthracyclines combined with dexrazoxane for breast cancer. Methods: The cost utility analysis based on Markov model was conducted to compare the anthracyclines combined with dexrazoxane(treatment group ) and anthracyclines alone(control group) from the perspective of payer. The cost parameters were derived from hospital sampling data in Guangdong province, and the probability and utility parameters were from literature review. The cycle length is 1 year. The sensitivity analysis is also performed. Results: The lifetime cost of cumulative direct medical in treatment group and control group was 125.9 thousand yuan and 124.9 thousand yuan, and the quality adjusted life year was 12.861QALYs and 12.345QALYs respectively. The treatment group had better effect with higher cost. The basic analysis indicated that the incremental cost effectiveness ratio (ICER) was 2075 Yuan/QALY, which was lower than 3 times of China GDP per capita in 2015(148053Yuan). The sensitivity analysis showed the robustness of results. Conclusion: Anthracyclines combined with dexrazoxane can reduce the incidence of heart failure and have cost effectiveness compared with the anthracyclines alone for breast cancer in long term.