The invention discloses a lipid coating slow release rice fertilizer capable of regulating soil acidity-alkalinity, which is prepared from the following raw materials in parts by weight: 20 to 22 parts of waste oil, 0.05 to 0.06 part of iodine, 10 to 11 parts of steatite, 100 to 110 parts of fish scales, 80 to 85 parts of urea, 20 to 22 parts of bean dregs, 17 to 18 parts of algae powder, 5 to 6 parts of medical stone, 0.3 to 0.4 part of monoammonium phosphate, 4 to 5 parts of zeolite powder, 1 to 1.1 part of tea saponin, 2 to 3 parts of humus, 1 to 1.1 parts of sodium carbonate, 1.2 to 1.3 parts of ammonium hydrogen carbonate, 0.9 to 1 part of potassium sulphate, 800 to 820 parts of 0.4mol / L sodium hydroxide solution, 5 to 6 parts of glutaraldehyde, a proper amount of stronger ammonia water, 0.4 to 0.5 part of microbe bacterial powder and 18 to 20 parts of bentonite. Waste lipid is modified so that during the film coating, curing can be realized only at normal temperature; hydroxylapatite generated after soaking degumming of fish scales in sodium hydroxide has porous structures, and can be used as a carrier for adsorbing urea into pore passages; in addition, the lipid coating slow release rice fertilizer can regulate the soil acidity-alkalinity.