The invention discloses a gypsum-based composite binding material for extruded 3D printing and a preparation method thereof and relates to the field of civil engineering/3D printing materials. Aimingat defects in the prior art, the invention provides the gypsum-based composite binding material for extruded 3D printing. The binding material is prepared from the following components: gypsum, pre-excited material, mineral additives, a plasticized water reducing agent, a waterproof agent, a crystal habit improver, a cystallizing stabilizer, a retarder, a dispersing agent, a water-retentive and thickening admixture, an adhesive, an antifoaming agent, a crystal modifier, a lubricating agent and fibers. The binding material disclosed by the invention has the beneficial effects that the preparedgypsum-based composite binding material for extruded 3D printing is wide in source, excellent in liquidity and environmentally friendly and has excellent extrusion continuity, constructability, mechanical property, water seepage resistance and cracking resistance.