The invention provides a juvenile coilia ectenes feed additive and a preparation method. The additive is prepared from the following raw materials: chitosan, digestive enzyme, carriers, lysine, glycine, glycine betaine, tea polyphenol, organic selenium, vitamin C, fish oil, emulsifying agent, sodium alginate, gelatin and citric acid. The preparation method comprises the following steps: preparing the digestive enzyme into a digestive enzyme solution, adsorbing with the carriers, then adding the sodium alginate, the gelatin and the citric acid into water, heating, preserving the heat, adding the emulsifying agent while stirring to obtain a mixed solution, adding the digestive enzyme carrier solution, the chitosan, the lysine, the glycine, the glycine betaine, the tea polyphenol, the organic selenium, the vitamin C and the fish oil into the mixed solution, homogenizing at the high pressure, spray drying, and preparing the feed additive. The additive provided by the invention provides sufficient nutrition to the juvenile coilia ectenes, can increase the survival rate of the raised juvenile coilia ectenes, capable of enabling the juvenile coilia ectenes to have the raising value, capable of improving the fertilizer efficiency and capable of decreasing the feed coefficient.