The invention relates to a low-protein carp feed. The feed comprises wheat-middlings, wheat bran, rapeseed cake, soya bean meal, corn germ meal, alfalfa meal, spouting corn bran, fish meal, meat and bone meal, sesame seed meal, monocalcium phosphate, bentonite, soybean oil, lysine, methionine, choline chloride and a premix and is characterized in that: alternanthera philoxeroides, parthemum powder, garlic powder, pine needle meal and rhubarb powder are added into the feed. A processing method for the low-protein carp feed comprises the following steps of: smashing and/or grinding various components in the feed; adding various raw materials into a stirring machine for stirring; and packaging the stirred feed. The feed can enhance the immunity and disease resistance of low-protein carp, effectively lower the morbidities of enteritis, gill breaking, red skin disease and explosive bleeding disease of the low-protein carp, increase fry survival rate, promote growth and effectively lower the bait coefficient of the low-protein carp.