The present invention provides compound feed for the polyculture of Litopenaeus vannamei and Trachinotus ovatus and a preparation method thereof. The compound feed is characterized by comprising the following ingredients in parts by weight: 15-25 parts of fish meal, 5-10 parts of meat and bone meal, 1-5 parts of maggot powder, 15-25 parts of soybean meal, 5-10 parts of peanut bran, 1-5 parts of soybean protein concentrate, 1-5 parts of cottonseed meal, 1-5 parts of corn gluten meal, 1-3 parts of molasses yeast, 1-3 parts of corn DDGS, 1-3 parts of squid paste, 1-3 parts of shrimp shell powder, 20-25 parts of high-gluten flour, 1-2 parts of sea fish oil, 1-2 parts of soybean oil, 1-2 parts of soy lecithin, 0.5-1 parts of calcium dihydrogen phosphate, 0.1-0.3 parts of choline chloride, 0.1-0.3 parts of cholesterol, 0.05-0.1 parts of L-ascorbate-2-monophosphate, 0.1-0.3 parts of coated lysine, 0.1-0.3 parts of coated methionine, 0.1-0.3 parts of Bacillus subtilis, 0.1-0.3 parts of mannan, 0.1-0.5 parts of complex vitamins, 0.1-0.5 parts of complex mineral salts. Experiments show that the compound feed for the polyculture of Litopenaeus vannamei and Trachinotus ovatus of the present invention can effectively meet the comprehensive nutrient needs of both Litopenaeus vannamei and Trachinotus ovatus, significantly improves the effective utilization of the feed, and has a relatively low food coefficient.