The invention belongs to the field of coated abrasives, and relates to a high-performance elastic composite abrasive sheet and a preparation method thereof. The high-performance elastic composite grinding sheet comprises a vulcanized paper back base, bottom glue, abrasive and complex glue, wherein the bottom glue comprises the following compositions in percentage by weight: 25 to 40 percent of phenolic resin A, 15 to 40 percent of phenolic resin B, 30 to 58 percent of fillers, 0.1 to 1.5 percent of surfactant and 0.1 to 15 percent of diluent; and the complex glue comprises the following compositions in percentage by weight: 15 to 70 percent of phenolic resin C, 15 to 70 percent of phenolic resin D, 0.1 to 3 percent of efficient flatting agent, 5 to 60 percent of fillers, 0.1 to 1.0 percent of coupling agent, 1 to 5 percent of pigment, and 0.1 to 10 of thinner. The method for preparing the high-performance elastic composite abrasive sheet comprises the steps of bottom glue coating process, grain coating process, complex glue coating process, post curing process, curly sand surface flatting process, laser cutting process, vulcanized paper deformation preventing process and storage process, wherein in the post curing process, the sand surface is curly outwards, and after the curly sand surface flatting process, the sand surface is curly inwards so as to enable the sand surface to be flat. The invention can effectively prevent deformation, and has the advantages of strong tensile strength, good adhesive performance and strong grinding performance.