The invention provides a fermentation agent for treating blue algae polluted water. The fermentation agent comprises algae-lysing advantage strain freeze-dried powder screened from the blue algae polluted water, quicklime powder, brown sugar, sodium bicarbonate, edible salt, yeast powder, rice straw powder, plant ash and vanadium pentoxide, wherein the quicklime powder, the brown sugar, the sodiumbicarbonate, the edible salt, the yeast powder, the rice straw powder, the plant ash and the vanadium pentoxide serve as ingredients of a culture medium. The invention further provides a composite microbial agent for treating the blue algae polluted water. The composite microbial agent is prepared through subjecting the fermentation agent, the rice straw powder, reed powder and rice hull powder to anaerobic shaded fermentation. The invention further provides preparation methods for the fermentation agent and the composite microbial agent, use of the fermentation agent and the composite microbial agent in treatment of the blue algae polluted water and a method for treating the blue algae polluted water. Algae-lysing advantage strains in the composite microbial agent can be used for promoting apoptosis of blue algae cells, and a large amount of lactic acid bacteria in the composite microbial agent can be used for absorbing substances such as saccharides and cellulose released from deadblue algae cells. The composite microbial agent can be directly put into the blue algae polluted water, the use is simple, convenient and efficient, and the rice straw powder, the reed powder and therice hull powder, which are used for preparing the composite microbial agent, are wide in source of raw materials and low in cost.