The invention discloses an efficient compound fertilizer which is prepared from the following raw materials in parts by weight: 70-80 parts of sheep manure, 45-50 parts of waste residues of beer, 23-26 parts of pear saw dust, 30-34 parts of potatoes, 30-34 parts of urea, 20-23 parts of monopotassium phosphate, 12-17 parts of diammonium phosphate, 10-14 parts of potassium chloride, 10-12 parts of potassium sulfate, 1-2 parts of sodium sulfite, 4-6 parts of sodium humate, 4-6 parts of a coating agent, 3-4 parts of an EM bactericide, and a proper amount of water. The fertilizer disclosed by the invention is prepared from organic matters including the sheep manure, the waste residues of beer, the pear saw dust, the potatoes and the like which are added with nitrogen, phosphorus and potassium, micro-elements, mid-elements and a sustained-release material, so that the fertility of the soil is improved and the aim of slowly releasing fertilizer nutrients is achieved, the utilization rate of the fertilizer is increased as well, and the environmental pollution is reduced. The prepared fertilizer has the characteristics of water retention, fertilizer retention, long fertilizer action time and good air permeability; meanwhile, the soil can be improved, nutrient balance of the soil is guaranteed, and sustainable development of the agriculture is promoted.