The invention belongs to the technical field of energy materials, and particularly relates to a preparation method of a multi-component hydrogen storage composite material. The preparation method comprises the following steps that 1, urea, diammonium hydrogen phosphate, hexadecylsulfonic acid sodium salt and sodium polyacrylate are mixed, a mixed salt solution of indium chloride, stannous chloride, calcium nitrate and bismuth nitrate is dropwise added, stirring is carried out for 12-24 hours, suction filtration is carried out, so that a hydrogen storage material precursor is obtained; 2, vacuum drying is carried out on the hydrogen storage material precursor at the temperature of 120 DEG C, the hydrogen storage material precursor is uniformly mixed with LiAlH4, and high-temperature reduction is carried out under a hydrogen atmosphere; and 3, the reduced product is washed with water, washed with an acetic acid aqueous solution and then dried, so that the multi-component hydrogen storagecomposite material is obtained. A PCT relation tester is sued for testing the hydrogen absorption performance and the hydrogen desorption performance of the multi-component hydrogen storage compositematerial, and the hydrogen storage density per unit mass is measured to be higher than 13.6%.