The invention discloses a high-efficiency compound retention aid specially used for making paper and a preparation method thereof. The high-efficiency compound retention aid specially used for making paper comprises the following raw materials in weight percentage: 5%-15% of chitosan, 10%-20% of polyaluminium chloride, 10%-20% of polyaluminium chloride, 20%-30% of cationic starch and 25%-35% of cationic polyacrylamide. The preparation method comprises the following steps of: selecting the raw materials of chitosan, polyaluminium chloride, polyaluminium chloride, cationic starch and cationic polyacrylamide, then carrying out inspection, drying, coarse crushing, fine crushing, sieving, metering, high-speed stirring and mixing and compounding to obtain the retention aid. The retention aid has the advantages of less consumption, high retention rate and high cost performance and can be widely used in the fields of textile spool paper, culture paper, toilet paper, coated paper, common yellow board packaging paper and the like.