The invention provides a preparation method of polyamine compound-modified magnetic chitosan and an application thereof. The preparation method comprises the following steps: firstly swelling chitosan with a 2% acetic acid solution, then connecting triethylene tetramine to the chitosan molecules by epoxy chloropropane, performing carboxymethylation of the above product by chloroacetic acid, and finally introducing magnetic ferroferric oxide into the triethylene tetramine-grafted chitosan molecules by using N,N'-dicyclohexyl carbimide with N,N-dimethyl formamide as a solvent, so as to obtain a target adsorbent. The adsorbent of the invention is mainly used for adsorption treatment of heavy metal ion-polluted waste water, not only can be used for adsorption recovery of single heavy metal ion, but also can be used for adsorption treatment of waste water polluted by a plurality of heavy metal ions, has the advantages of good adsorption effect, no secondary pollution, easy separation, recyclability, cheap and easily available raw materials, and the like, and is a potential heavy metal waste water treating agent.