The invention discloses an organic fertilizer which is prepared from olive waste material and is used for improving olive orchard soil. The organic fertilizer which is prepared from olive waste material and is used for improving olive orchard soil comprises, by weight, olive fruit residue, olive leaf, olive branch pyroligneous liquor, bran powder, a biological nutritional agent, polyacrylamide, marine bacillus, Bacillus thuringiensis, phanerochaete chrysosporium, rape seed cake, modified biochar, polyvinyl acetate, corn stalk, brassinolide, and ammonium sulfate. The biological nutritional agent is composed of extract yeast, cane sugar, peptone, potassium acetate, and sodium phosphate at a weight ratio of 4:3:2:1:1. According to a preparation method, full using of olive fruit residue and fruit leaf is adopted for production of the organic fertilizer, soil conditions can be improved effectively, soil pH value adjusting is realized, microecology adjusting and granular structure adjustingare realized, immobilized nutrient element activity adjusting is realized, and absorption removing of soil harmful metal element effect is achieved.