A liquid fuel additive consisting of 5-10% puffing agent P, 10-15% pentaerythritol tetranitrate, 4-8% triethanolamine, 2-4% oleic acid, 1.2-7.2% trinitromethane, and propylene oxide 0.8~4.8%, ethylene glycol dinitrate 3~13%, diethylene glycol dinitrate 1~5%, triethylene glycol dinitrate 1~3%, dinitromethane 2~4%, tetranitro It is prepared by mixing 1-3% of methane, 2-7% of aluminum powder, 8-30% of ammonium nitrate, 5-15% of guanidine nitrate, 8-14% of potassium permanganate and 2-8% of hydrogen peroxide. After the present invention is mixed with heavy oil, the water mixing rate is as high as 40-60%, and the fuel-saving rate is 50-55%. The liquid fuel is prepared by mixing the present invention with heavy oil and water, and the heat generated by burning 1g of the liquid fuel is 10526 calories through the test of the test unit. The invention can be used as an additive of liquid fuel in industrial furnaces, industrial boilers and heating boilers, and can also be used as an additive of gasoline and diesel oil.