The invention relates to a preparation method of an asymmetric rare earth capacitor battery, and belongs to the field of water power battery. The method comprises the steps that: positive electrode and negative electrode battery slurries and a capacitor slurry are prepared; the positive electrode slurry is coated on foamed nickel, such that a positive electrode is prepared; bake-drying, rolling, powder removing, welding, and longitudinal and transverse cutting are carried out, such that a positive electrode sheet is prepared; the positive electrode sheet is packaged by using a separation film bag; the negative electrode slurry is coated on foamed nickel, and the materials are bake-dried; the capacitor slurry is coated on the material, and secondary bake-drying, rolling, powder removing, welding, and longitudinal and transverse cutting are carried out, such that a negative electrode sheet is prepared; the positive and negative electrode sheets are stacked, such that a battery core is prepared; the battery core is placed in a housing, and welding, top cover sealing, and liquid injection are carried out; and series connection formation is carried out, such that the battery is prepared. According to the invention, laminated coating is adopted in preparing the negative electrode sheet, such that the capacitor material is completely effectively combined with the battery material, and the integration of the positive and negative electrode sheets and the conductive lugs is realized. The battery has the advantages of high safety, environment friendliness, and low cost. The battery has both the energy density advantage of a nickel-metal hydride battery and the power density advantage of an asymmetric supercapacitor, such that operation conditions for electric vehicle and the like can be achieved.