Mongolian pharmacy is an important part of traditional medicine for the Chinese nation, with a long history and a complete theoretical system. The Mongolian people have accumulated and summarized the types and usage of Mongolian medicines in the practice of fighting against diseases over a long history. Mongolian medicinal resources are rich and diverse, the processing is self-contained, and the methods of medication are scientific and reasonable. Mongolian pharmacy not only has a deep historical relationship with traditional Chinese medicine but has also absorbed the essence of ancient Tibetan and Indian Ayurvedic medicine in the process of its development. We can identify the historical traces of the continuous exchange, communication, and integration of various ethnic medicinal cultures from the names of Mongolian medicinal materials. Because of the differences in languages and cultures of the various ethnic groups, the names of Mongolian medicinal materials have undergone a long historical period of evolution. These need to be further standardized owing to complications caused by the existence of synonyms and homonyms.