A sodium bentonite processing agent for blue-green algae is prepared from the following raw materials in parts by weight: 10-20 parts of serpentine, 40-45 parts of sodium-base bentonite, 2-3 parts of magnesium chloride, 8-13 parts of calcium chloride, 15-20 parts of potassium ferrate(VI), 12-16 parts of equisetum hyemale, 13-16 parts of pericarpium granati, 3-5 parts of polymaleic acid, 3-4 parts of sodium pyrophosphate, 2-3 parts of urea, 3-5 parts of anhydrous sodium sulfate, 3-5 parts of boric acid, 4-6 parts of polyvinyl alcohol, proper amount of water, and 3-4 parts of an adsorption auxiliary agent. By adding potassium ferrate(VI), the processing agent for blue-green algae has synergic effects of oxidation, adsorption, flocculating, precipitation, sterilization, disinfection, decoloring and deodoring, also does not generate any toxic and harmful substances, is capable of increasing water dissolved-oxygen content, has good removal effects on ammonia nitrogen, nitrites and algae in water, and is used to remove fulvic acid and suspensions in water and eutrophication phenomenon in fresh water. The processing agent for blue-green algae is good in dispersing suspending property and good in adsorption property, and can help to rapidly aggregate and salvage blue-green algae.