The invention discloses a water-reducing agent containing peanut shell powder. The water-reducing agent containing peanut shell powder is prepared by mixing the following raw materials in parts by weight: 30-50 parts of aromatic sulfamate formaldehyde condensate, 15-25 parts of sodium methylene bis-naphthalene sulfonate, 5-10 parts of 2-ethylhexyl phosphate, 10-15 parts of abitol polyoxyethylene ether monosulfosuccinate, 8-12 parts of fluoroplast, 10-15 parts of polyethyleneimine, 3-5 parts of erucamide, 4-8 parts of 8-hydroxyquinoline potassium sulfate, 3-6 parts of peanut shell powder, 5-10 parts of sea mud, 10-15 parts of waste mortar, 5-10 parts of collagen freeze-dried powder, 8-12 parts of sodium pyrrolidonecarboxlate, 5-10 parts of polyamide-epichlorohydrin resin, and 4-8 parts of auxiliaries. The water-reducing agent is high in water reducing rate which is up to more than 20%, excellent is plasticity retention property, good in cement adaptability, convenient to use, free from influence on properties by being directly doped into concrete, capable of improving the mobility, anti-seepage property and durability of the concrete, and wide in the range of application.