The invention relates to the field of seasonings, in particular to a preparation method of sequoia fish extract. The method comprises the following steps of 1), pretreating a raw material; 2), mixingbroken sequoia fish and pre-activation protease, performing uniform stirring, and performing heating to 58-62 DEG C for enzymolysis to obtain an enzymolysis product; 3), adding L-cysteine hydrochloride monohydrate and fatty acid monoglyceride and diglyceride, and performing a Maillard reaction at a constant temperature of 85-95 DEG C to obtain a premixture; 4) adding starch sodium octenylsuccinateand soybean protein isolate, and performing uniform stirring to obtain crude extract; and 5) performing drying to obtain the sequoia fish extract. The invention further relates to sequoia fish extract containing compound flavor sauce. The compound flavor sauce comprises soybean salad oil, dried scallops, dried shrimps, garlic bulbs, fresh ginger, green onions, chili powder, soy sauce, fish sauce,white granulated sugar, monosodium glutamate, disodium ribonucleotide (I+G), the sequoia fish extract and water. The compound flavor sauce has the effects that the flavor is unique and rich and the market blank is filled up.