The invention discloses a medicative fertilizer preparation which is developed by the scientific combination of insecticide and fertilizer. The medicative fertilizer comprises the insecticidal components such as carbosulfan and tebufenozide, nitrogen-potassium-phosphate fertilizer, trace elements and a stabilizing agent, wherein a mixed preparation of the carbosulfan and the tebufenozide has the characteristics of high biological activity, good drug effect, little possibility of resistibility and the like for the soil insects of sugarcane stem borers, white grubs, alissonotum impressicolle arrow and the like. Meanwhile, the medicative fertilizer preparation is also a very good crop growth regulation fertilizer, has double effects of medicine and fertilizer and is labour-saving, time-saving, labor-saving and money-saving. The invention has stable chemical property; the invention features safe, simple and convenient use, little dosage, long lasting time of the drug effect and extensive application prospect, lightens labor strength and the labor time of a farmer, has a great significance for effectively, scientifically and reasonably utilizing resources and protecting the environmentand also acts as a positive boost for reducing the agricultural investment of a user and increasing the yield and the benefit of agriculture.