The invention belongs to the technical field of food processing, and in particular relates to a compound fish scale peptide and calcium compound chewable tablet for antioxidation and calcium supplementing and a preparation method thereof. The preparation method comprises the following steps: cleaning fish scales and stoving; pulverizing the dry fish scales; adding distilled water and alkaline protease to the pulverized fish scale powder for hydrolysis, heating for enzyme inactivation after the hydrolysis, filtering, concentrating and drying the filtrate to obtain fish scale antioxidant peptides, and collecting residue; and adding an aqueous citric acid solution to the residue, extracting, standing and filtering, recovering the resulting precipitate, and pulverizing to obtain fish scale calcium citrate. The products of the fish scale peptide and calcium compound chewable tablet of the invention is prepared by mixing fish scale antioxidant peptides, fish scale calcium citrate, whole milk powder, compressible starch, glucose, sucrose, citric acid, malic acid, food flavor, magnesium stearate, etc., crushing and sieving and tabletting forming. According to the present invention, the peptide extraction rate is 72.3-85.9% scale, and the calcium recycling rate is 67-78%. The preparation method of the invention is simple and practical, and the product of the invention has good taste and stability.