Production of potassic-magnesian fertilizer is carried out by: 1) using carbonate minerals of potassium mineral, calcium, magnesium or calcium-magnesium with mass percent of burnt potash >=11% in mass ratio: 1:0.70-0.90:0.40-0.48, breaking, and mixing with powdered coal and converting agent; 2) powder milling, ball forming, putting into cement kiln at 1000-1300deg.C, sintering for 25-45 mins, and cooling; 3) powder milling, choosing two or three kinds of converting agent from (a) halide of Al3+, Mg2+, Ca2+, Na+ or NH4+, (b) sulfate and/or carbonate and (c) hydroxide, the ratio of a, b, c mass:0.8-1:0.6-1:0-0.2, converting agent mass is 2-8 wt% of furnace charge, and powdered coal mass is 8-13wt% of furnace charge. It achieves low cost and good performance.