Aging has become a major geriatric health issue worldwide in recent years. Sarcopenia, presented as degenerative loss of skeletal muscle mass with increased age, has drawn researchers’ attention. However, only limited traditional Chinese medicine (TCM) researches aimed at sarcopenia. Our research focused on comprehensively reviewing and discussing the pathophysiology and mechanism of treatment in terms of the viewpoint of modern medicine and TCM, and the results may provide clinical suggestions or targets for further studies. Sarcopenia may be referred as “wilting disease” and “consumptive disease” in TCM. Various TCM herbs and formula show potential therapeutic effects toward sarcopenia, such as Schisandrae Fructus, Loquat leaf, Curcuma longa, Angelica sinensis, Cistanche deserticola, Astragali radix, Honokiol, Panax ginseng, Zingiber officinale (raw ginger), Ji-Sheng-Shen-Qi-Wan, Zi-ying-jiang-huo-tang, Liu-Jun-Zi-Tang. Nevertheless, there is still lacking in enough clinical trials for using TCM in treating sarcopenia, which may require more experts’ devotion in the future.