The invention discloses a compound compensator for a high pressure pipeline, belonging to the technical field of the compensating equipment of the heat distribution pipeline. The compound compensator comprises an inner pipe, an anticorrosive pipe, a gland cover flange, a wear sleeve flange, a wear sleeve, a reduction adapter, a guide pipe, a corrugated pipe, a pressure head and the like, wherein the wear sleeve is ringed on one end of the inner pipe, the outer ring of the outer end of one side of the wear sleeve is provided with the wear sleeve flange, the end on other side of the wear sleeve is welded and fixed with a reduction adapter supporting platform integrated with the reduction adapter; the reduction adapter and the inner pipe are separately sleeved on the two ends of the guide pipe, one end of the guide pipe is fixedly connected with the reduction adapter, the corrugated pipe is arranged between the guide pipe and the wear sleeve, and the two ends are butted with the pressure head and the reduction adapter and are connected and fixed through welding. By adopting the structure, when the inner pipe is extruded and pushed by the axial heat expansive force, the axial displacement can be absorbed through the flexible deformation of the corrugated pipe; the coaxial, synchronous and integral movement of the anticorrosive pipe and the like along with the inner pipe can be performed along the axial direction, thus the compound compensator can be used as the buried pipeline or the overhead pipeline; in addition, the compound compensator has multifunctional characteristics of being used as the gas or liquid pipeline and also as the slurry pipeline.