The invention belongs to the deep processing field of peanut protein, and provides a formula for compound peanut solid beverage, and a preparation method thereof. The compound peanut solid beverage is composed of low temperature cold-pressed semi-defatted peanut protein flour, mung bean flour, millet flour, peanut shell water-soluble dietary fibers and xylitol. The invention also provides a preparation method for the compound peanut solid beverage. The method comprises the following steps of weighing raw materials, mixing the materials, soaking the above materials in a water solution, grinding the solution with a colloid mill, preparing a solution, homogenizing under a high pressure, and freeze-drying. The compound peanut solid beverage prepared by the method has high protein content. Protein content detected by a Kjeldah method is higher than 40%. The compound peanut solid beverage has comprehensive and balanced nutrition, and can be drunk after being blended with boiling water. Therefore, the compound peanut solid beverage has high protein content, can be dissolved in the boiling water, and is suitable for different crowds. Besides, a production process is simple and can be operated easily, is suitable for industrial production, and has good economic benefits and social benefits.