Objective:To investigate the effect of Esketamine combined with Midazolam on anesthesia effect and cognitive function in elderly patients with lower limb fracture surgery.Method:A total of 92 elderly patients with lower limb fracture admitted to our hospital from Jan. 2019 to June 2020 were selected, and they were divided into control group and observation group according to random number table method, 46 cases in each group.The control group was anesthetized with Dexmedetomidine combined with Esketamine, and the study group was anesthetized with Esketamine combined with Midazolam.Anesthesia effect, adverse reactions, hemodynamics and cognitive function were compared between two groups.Result:The rate of excellent and good anesthesia in the study group was higher than that in the control group, and the incidence of adverse reactions in the study group was lower than that in the control group, the differences were statistically significant (P<0.05).At T_1, there were no significant differences in HR, MAP and CVP between two groups (P>0.05).At T_2-T_5, HR, there were no significant differences in HR, MAP and CVP between the control group and T_1 (P<0.05).At T_2-T_5, there were no significant differences in HR, MAP and CVP between the study group and T_1 (P>0.05).At T_2-T_5, HR, MAP and CVP in the study group were lower than those in the control group, the differences were statistically significant (P<0.05).The onset time of anesthesia in the study group was shorter than that in the control group, and the sedation and VAS scores in the study group were lower than those in the control group, the differences were statistically significant (P<0.05).Before surgery, there was no significant difference in MMSE score between two groups (P>0.05);1 and 3 d after surgery, MMSE scores in the study group were higher than those in the control group, the differences were statistically significant (P<0.05).Conclusion:The application of Esketamine combined with Midazolam in the external fixation of lower extremity fractures in elderly patients is effective, has little effect on hemodynamics, is beneficial to improve cognitive function, has ideal sedative effect, has fewer adverse reactions, is safe, which is worthy of extensive promotion.