Calcium phosphate cement (CPC) has many advantages and is frequently used as a carrier of antibiotic and bone growth factors. Salmon calcitonin(S-CT) is effective in treating osteoporosis. Due to its potential of promoting bone cell proliferation, S-CT was combined with injectable CPC to accelerate the restoring of the bone defect induced by osteoporosis and the composite can be used in minimal invasive surgery. Uniform design was used to optimize the prescription, and the effects of pore-maker and S-CT on the characters of CPC were studied. The in vitro releasing of S-CT from the optimum CPC in deionized water, SBF and rabbit serum was studied with HPLC, respectively. The results showed that the contents of HA and citric acid-NaHCO3 affect the physical characters of CPC sharply, but S-CT has little effect on it. The releasing of S-CT in three different medium follow Hugichi equation, but the speed is slower in rabbit serum than in deionized water and SBF. S-CT carried porous injectable CPC composite possesses the basic performance for clinical needs, and it is promising to be used in osteoporosis induced bone defect and accelerate bone repair.