The invention discloses a multi-element structure composite conductive filling material. A surface of lightweight inorganic powder (hollow glass beads, mica, carbon fibers, flake graphite and the like) is plated with a layer of wave absorbing magnetic material (Ni, Fe, Co, Ni-P, Co-P, Ni-Co-P, Co-W-P, barium ferrite, ferriferrous oxide, carbonyl iron and the like), and then is plated with a layer of conductive material (such as metal of silver, nickel, copper and the like or inorganic oxides of doped tin oxide, doped indium oxide, doped zinc oxide, titanium dioxide and the like), and a novel multi-element structure composite conductive filling material-inorganic powder core/magnetic material coating layer/conductive material coating layer is prepared. The electromagnetic shielding performance of the composite conductive filling materials can be raised further by utilization of wave absorbing performances of the wave absorbing material to electromagnetic waves and the reflection performances of the conductive material to electromagnetic waves. The composite conductive filling material has advantages of light weight, low cost, wide shield frequency band, good shielding properties and the like, and has great application values in the electromagnetic shielding composite material field.