The invention discloses a sulfomethylated alkali lignin-formaldehyde-sulfonated acetone polymer coal water slurry additive and a preparation method thereof. The additive comprises the following components, by weight, 11.5-20.0 parts of alkali lignin, 4.9-10.0 parts of a sulfonating agent, 0.1-0.8 parts of an alkaline regulator, 4.5-10.0 parts of acetone, 5.4-13.5 parts of formaldehyde, and 47.3-67.2 parts of water. The preparation method comprises the following steps: 1, reacting the alkali lignin with a certain amount of formaldehyde and a certain amount of the sulfonating agent to prepare sulfomethylated alkali lignin; and 2, carrying out a catalytic sulfonation reaction on acetone by the alkaline regulator and the sulfonating agent to obtain a sulfonated acetone prepolymer, adding the prepared sulfomethylated alkali lignin and a formaldehyde solution, and carrying out a polymerization reaction to form the coal water slurry additive containing sulfo, hydroxy and alkyl active groups. So the product and the product stability are improved. The additive of the invention has the advantages of simple method, easily available raw materials, short production period, good stability, nontoxicity, no seasonal and regional restriction of the use, convenient storage and transportation, and realization of the high value utilization of lignin.