In order to overcome the problem that sparking voltage and conductivity are not high enough in the prior art, the invention provides a high-voltage high-conductivity electrolytic solution for an aluminum electrolytic capacitor. The electrolytic solution comprises 40%-60% of a main solvent, 15%-30% of a main solute, 9%-15% of an auxiliary solvent, 4%-7% of an auxiliary solute, 5%-10% of a sparkingimprover and 0.2%-0.5% of a hydrogen elimination agent, wherein the main solute is long-chain dicarboxylic acid containing 22-24 carbon atoms with branched chains or ammonium dicarboxylate; the auxiliary solute is selected from azelaic acid or azelate, sebacic acid or sebacate, dodecanedioic acid or dodecanedioate, dicarboxylic acid containing 16-18 carbon atoms with branched chains or dicarboxylate and inorganic acid or inorganic acid salt; and the sparking improver is selected from a glycol dispersion liquid containing nano-silicon and also contains polyvinyl alcohol borate, polyvinyl alcohol with the polymerization degree of 300-3,000, polyglycerol with the polymerization degree of 300-3,500, polypropylene glycol with the polymerization degree of 500-2,500, a silane coupling agent, polypropylene oxide ether and polyfatty acid or ammonium salt thereof. The high-voltage high-conductivity electrolytic solution for the aluminum electrolytic capacitor is high in sparking voltage which can reach 580V or above, and the conductivity is improved by 20%-40% compared with an existing electrolytic solution.