Abstract: This study investigates the anti-fatigue effects and mechanisms of Lycium barbarum and Ginseng combination using network pharmacology and in vivo validation. The effective components and their action targets of Lycium barbarum and Ginseng were explored through TCMSP, ETCM and other databases combined with literature. The fatigue targets were obtained through OMIM and Gene Cards databases. The intersection targets of drug targets and disease targets were screened out and imported into String database and Cytoscape 3.10.0 to construct PPI network. GO and KEGG enrichment analysis of the core targets were performed by David database. A mouse exercise-induced fatigue model was established to evaluate the anti-fatigue effects and mechanisms of the Lycium barbarum-Ginseng combination. The results showed that 55 active ingredients of Lycium barbarum and Ginseng were obtained, corresponding to 573 targets. The number of fatigue targets was 1 137, 115 total targets and 26 core targets were screened. KEGG enrichment pathways mainly included PI3K-AKT, HIF-1α, AGE-RAGE and other signaling pathways. All animal experiments were approved by the Experimental Animal Ethics Committee of Nanjing University of Chinese Medicine (approval number: 202308A018). The results showed that the low, middle and high dose groups of Lycium barbarum and Ginseng (1∶1) could prolong the exhaustive swimming time of mice, and the middle dose group had a more significant effect than Ginseng group and Lycium barbarum group. The middle and high dose groups of Lycium barbarum combined with Ginseng significantly reduced blood urea nitrogen (BUN) in mice. Compared with Ginseng group and Lycium barbarum group, the high dose group had a more significant effect. Lactic acid (LD) levels were significantly decreased in Ginseng group, Lycium barbarum group and combination group. Compared with the Ginseng group, the levels of liver glycogen (Lgly) and muscle glycogen (Mgly) were significantly increased in the middle dose group of Lycium barbarum combined with Ginseng. The levels of malondialdehyde (MDA) and superoxide dismutase (SOD) in serum were significantly decreased in Ginseng group and Lycium barbarum combined with Ginseng high dose group. The content of glutamic oxaloacetic transaminase (AST) and glutamic pyruvic transaminase (ALT) in the high dose group of Lycium barbarum combined with Ginseng can be significantly decreased. The results of Western blot showed that the low dose group of Lycium barbarum combined with Ginseng could significantly up-regulate the expression of P-PI3K and AKT proteins in the muscle tissue of fatigue mice, and the middle dose group could significantly down-regulate the expression of P-AKT and HIF-1α proteins. Compared with Ginseng group and Lycium barbarum group, the expression of PI3K protein in the high dose group was significantly increased. The expression of AKT protein in the low-dose group was significantly increased. In conclusion, Lycium barbarum combined with Ginseng has more positive effects on improving exercise endurance, reducing the accumulation of metabolites and improving glycogen storage levels in mice than Ginseng group and Lycium barbarum group, and its mechanism may be the regulation of AKT, PI3K, HIF-1α and other core targets and PI3K/AKT/HIF-1α signaling pathway to exert anti-fatigue effect.