The invention provides a photo/thermal initiation fast curing adhesive which comprises the following components by mass: 40-70 parts of one or more epoxy resin matrixes, 20-40 parts of a latent thermal initiation curing agent, 0.5-5 parts of one or more photo initiation curing agents, 0.1-2.5 parts of one or more photosensitizers, 15-35 parts of one or more flexibilizers, and 20-40 parts of one or more fillers. A preparation method of the photo/thermal initiation fast curing adhesive comprises the following steps: at first, under the action of ultraviolet light, the photo initiation curing agents are used for initiating part of epoxy resin to perform a curing reaction, under the action of heat released during the curing reaction and an external heat source, the temperature of the cured part reaches the latent imidazole initiation reaction temperature of 70-90 DEG C, a latent imidazole complex is activated, epoxy resin is initiated to be quickly cured within 3 min, the automatic, high-quality and fast-cementing connection requirements of a car composite material are met, and the technical problems such as mismatch between the traditional adhesive curing initiation condition and the connection working condition of the car composite material are solved.