The study adopted GARCH model to investigate the return and risk transmission effect of US Dollar Index and VIX index to Taiwan Stock Market, in the period of in the beginning of 2010 to March of 2016. The empirical results indicate the eve return of US Dollar Index and and the eve return of VIX index have negative influence to the the present return of Taiwan stock markets. The variance estimation results show that ARCH effect is statistical positive significantly effect. The variance is not fixed and changes over time.