The invention discloses an efficient compound water reducing agent for concrete and a preparation method of the efficient compound water reducing agent. The efficient compound water reducing agent comprises, by weight, 13-18 parts of aromatic sulfamic acid formaldehyde condensate sodium salt, 11-16 parts of sulfonated humic acid-formaldehyde-sulfonated acetone polymer, 10-15 parts of polymer of 4-amino-sodium benzene sulfonate, formaldehyde and methylphenol, 7-11 parts of alkali lignin, 8-13 parts of sodium polystyrenesulfonate, 5-10 parts of calcium gluconate, 6-12 parts of propylene glycol alginate, 4-7 parts of mannitol, 4-8 parts of sodium lauryl sulfate and 5-10 parts of polyvinyl pyridine. The water reducing agent prepared by the method has the advantages that the water reducing agent is excellent in comprehensive performance, high in water reducing performance, high in early strength, high in reinforcing performance, low in shrinkage, high in slump loss resistance, and the like; the water reducing agent is suitable for high-durability concrete, self-leveling concrete, high-strength pump-delivery commodity concrete, underwater bored pile grouting concrete, bare concrete with high facing requirements, steam-cured concrete and the like.