To explore the effect of oncoplastic breast-conserving surgery (OBCS) on the psychological status, quality of life (QoL) and survival prognosis of patients with early breast cancer (BC). In this study, one hundred BC patients with early breast cancer were divided into two groups according to the random number table method. They were treated with traditional breast conserving surgery (BCS) and OBCS. The results showed that compared with the traditional BCS treatment group, the operation time of OBCS treatment group was significantly longer, while the intraoperative blood loss, postoperative drainage and hospital stay were significantly shorter; in terms of cosmetic effect, the excellent and good rate of OBCS (92.00%) was significantly higher than that of traditional BCS (74.00%); the Hamilton Anxiety Rating (HAMA) and Hamilton Depression Rating (HAMD) scores of patients in the postoperative OBCS were significantly lower than those in the traditional BCS; the scores of all items in the OBCS were significantly higher than those in the traditional breast conserving surgery treatment group; the total complication rate of OBCS was significantly lower than that of traditional BCS; within 1 year of follow-up, there was no significant difference in the recurrence rate and metastasis rate between the two groups (p > 0.05). It can be seen that compared with BCS, OBCS has better cosmetic effect, improves the poor psychological state of patients, improves the quality of life of patients, and has fewer complications.