The invention discloses a spinosad and chlopyrifos compound microsphere suspending agent and a preparation method thereof, and belongs to the technical field of pesticide production. The preparation method comprises the steps of taking spinosad and chlopyrifos as active substances, namely core materials, taking biodegradable polylactic acid as a sphere forming material, namely a wall material, dissolving the core materials and the wall material in a recoverable volatile organic solvent, preparing spinosad and chlopyrifos compound microspheres by a modified emulsification-solvent volatilization/extraction method, and preparing the spinosad and chlopyrifos compound microsphere suspending agent with stable performances with a wetting disperser, a thickener, an antifreezer, an antifoaming agent and water. In the compound microsphere suspending agent, the compounding ratio of the spinosad to the chlopyrifos has an obvious synergetic effect according to an indoor pesticide toxicity test, and as the suspending agent is wrapped by polylactic acid, the suspending agent has the advantages of safety, low toxicity, high efficiency, long lasting period, good stability and the like.