Objective: To explore the application value of relaxation therapy combined with phased functional exercise in perioperative nursing management of patients with ankle fractures. Methods: Eighty patients with ankle fractures who were going to undergo surgery in General Hospital of Wanbei Coal & Power Group were selected and randomly divided into control group and observation group, with 40 cases in each group. The patients in control group were given routine nursing management during perioperative period while the patients in observation group were given relaxation therapy combined with phased functional exercise during perioperative period on the basis of routine nursing management. The differences in postoperative pain, postoperative sleep and hospital stay, ankle function and nursing satisfaction were analyzed in the two groups. Results: The pain scores of patients in observation group at 12, 24, 48 and 72 h after surgery were significantly lower than those in control group (P<0.05). The sleep time at 24 h after surgery and sleep time at 48 h after surgery in observation group were significantly longer than those in control group (P<0.05), and the hospital stay was significantly shorter than that in control group (P<0.05). At 2 months after surgery, the scores of activities of ankle dorsiflexion and plantar flexion and ankle function in the two groups were significantly improved compared with those before surgery (P<0.05), and the scores in observation group were higher than those in control group (P<0.05). The nursing satisfaction in observation group was significantly higher than that in control group (P<0.05). Conclusion: Relaxation therapy combined with phased functional exercise can reduce postoperative pain, improve sleep and shorten the hospital stay in perioperative nursing management of patients with ankle fractures. It is helpful to promote the recovery of ankle function and has high clinical application value.