The invention discloses a controlled release fertilizer for Chinese yam. The controlled release fertilizer is prepared from the following raw materials in parts by weight: fertilizer granules, and capsules, wherein the fertilizer granules are prepared from the following raw materials in parts by weight of sheep manure, chicken manure, pig manure, waste residues, earthworm powder, biological bacteria, trace elements, a water retaining agent, a dispersing agent and a conditioner; and the capsules are prepared from the following raw materials in parts by weight of animal glue, silicon carbide fibers, calcium phosphate, a damp-proof agent, an oxidizer, a coupling agent, a cold resistant agent, a waterproof agent, a synergist, a penetrant, a flocculant, alkali clay, sludge and ammonium nitrate. The controlled release fertilizer for Chinese yam, disclosed by the invention, is moderate and stable in release control rate, the fertilizer granules are balanced in nutrients, the run-off rate of the fertilizer can be effectively reduced, the utilization efficiency of the fertilizer is improved, the rapid and healthy growth of the Chinese yam is facilitated, and the yield of the Chinese yam is increased. The controlled release fertilizer for Chinese yam, disclosed by the invention, not only can effectively control diseases and insect pests, shorten the growth cycle, and increase crop yield, but also can improve soil environment.