The present invention discloses a bismuth hyaluronate, characterized in that the bismuth content is from 0.5% to 40%, and the glucuronate content is from 20% to 45%, based on dry weight. Also provided is a method for the preparation of said bismuth hyaluronate comprising reaction of a soluble hyaluronate salt with a bismuth salt in a basic aqueous solution, followed by steps of precipitation, filtration, desalting, dehydrating and drying to obtain the product. Further disclosed is the use of the bismuth hyaluronate in the manufacture of a medicament or health foods for preventing and treating gastrointestinal disorders, in particular ulcerous disorders of the GI tract. It has been proven in animal experiments to show a better therapeutic effect than products of the same type.