The invention relates to compound 
brazing filler metal used for hard 
alloy tool 
brazing. The compound 
brazing filler metal is composed of 25%-27% of Ag, 37%-39% of Cu, 3.0%-5.0% of Mn, 2.0-4.0% of Ni,1.5%-2.5% of In, 0.5%-1.0% of nano-SiCp, 0.15%-0.3% of Si, 0.1%-0.2% of B, 0.05%-0.1% of Co, 0.01%-0.05% of Fe, 0.01%-0.1% of La, Ce and Y mixed 
rare earth and the balance Zn, wherein the mixed rareearth includes at least two of La, Ce and Y. A preparation method includes the steps that firstly, raw materials are weighed according to the ratio; secondly, segmented variable-speed high-energy ballmilling is conducted on Cu 
powder and nano-SiCp to obtain Cu / nano-SiCp particles; thirdly, the Ag, Cu ingots, the Zn, the Mn, the Ni, the Si, the Co and the Fe are placed in a medium-frequency induction 
smelting furnace to be heated and molten, and then the In, the B, the Cu foil wrapped mixed raw earth and the Cu / nano-SiCp particles are sequentially added in a 
crucible; fourthly, the mixture ismoved into a well type resistance furnace to be subjected to 
ultrasonic vibration and 
squeeze casting forming; and fifthly, hot rolling and cold rolling are conducted on cast ingots to form the foil sheet brazing 
filler metal. By means of segmented variable-speed ball milling and 
ultrasonic vibration, uniform dispersion of the nano-SiCp is ensured, the brazing filler 
metal is good in wettability and joint filling capacity, the brazing manufacturability is good, the preparation method is simple, and the finished product rate is high.