The invention relates to a preparation device and method for a composite plate hammer. The preparation device comprises a sprue cup, a plate hammer mold cavity, a left half mold, a right half mold, a sprue cavity, a ceramic particle cavity, a pressing head, a mold locking seat, a mold bottom plate and a lower jacking block. The preparation method comprises the following steps that S1, the plate hammer mold cavity and the ceramic particle cavity are preheated to 150-250 DEG C, and ceramic particles are preheated to 800-1200 DEG C; S2, the preheated ceramic particles are added into the ceramic particle cavity to the set quantity; S3, the sprue cup is placed; S4, mixing is conducted along with flowing; S5, liquid forging compounding is conducted, specifically, within the time of 5-15 seconds after pouring of plate hammer molten metal is stopped, a ceramic particle-metal mixture is pressurized directly by the pressing head until all the mixture is solidified; and S6, part out-taking and heat treatment are conducted, specifically, the left half mold and the right half mold are opened, the composite plate hammer is taken out and put into a slow cooling furnace to be cooled to 400 DEG C or below, reheating, quenching and tempering heat treatment are conducted, and the composite plate hammer is obtained.