The invention relates to compound calcium sulfonate grease and a preparation method thereof. The compound calcium sulfonate grease is prepared from 30 to 40% of high base number calcium sulfonate, 2 to 3% of isopropanol, 1.5 to 2.5% of dodecyl sulfonic acid, 4 to 5% of 12-hydroxyl stearic acid, 3 to 4% of boric acid, 1% of micro powder calcium carbonate, 4 to 5% of calcium hydroxide, 5% of water, 1 to 2% of amine and phenol compound and 32.5 to 48.5% of base oil. According to the compound calcium sulfonate grease disclosed by the invention, converting agents of middle molecule alcohol and organic acid are combined and utilized, meanwhile the amine and phenol compound is added into a system, and the problem that the compound calcium sulfonate grease in the prior art is prone to surface hardening in a storage and use process is solved. In a compound calcium sulfonate grease preparation process, a pressure kettle is utilized as a reactor, a cooling reflux device is arranged to prevent the converting agents and water from volatilizing, the problem of repeatedly replenishing water for materials in a reaction process is solved, the converting agents and the water are removed by pressure reduction and vacuumization after converting reaction finishes, and the residual converting agents are prevented from enabling the system to react continuously to cause the problem of product hardening.