The invention discloses a method for preparing coated paddy rice fertilizers with reduced costs. The method includes steps of uniformly mixing ammonium nitrate, phosphorite powder, potassium nitrate,borax, coconut shell charcoal, lime powder, zeolite powder and dolomite powder with one another to obtain mixtures, sieving and granulating the mixtures and spraying sodium alginate compounds to coatthe mixtures in granulation procedures so as to obtain prefabricated materials; uniformly mixing thoroughly decomposed chicken manure, peanut hull powder, grass peat soil, sweet potato flour, wollastonite powder, zinc sulfate, manganese sulfate and brassinolide with one another to obtain first mixtures, adding the prefabricated materials into the first mixtures to obtain second mixtures, preheating and heating the second mixtures, spraying rapeseed meal on the second mixtures, adding mica powder into the second mixtures, continuing to stir the mica powder and the second mixtures and carrying out air drying to obtain the coated paddy rice fertilizers with the reduced costs. The method has the advantages that paddy rice can comprehensively absorb nutrients in a balanced manner by the aid ofthe coated paddy rice fertilizers, accordingly, the quality of the paddy rice can be improved, and the yield of the paddy rice can be increased; the physical and chemical properties of soil can be improved, the soil fertility can be fertilized, nutrient requirements of the paddy rice in integral growth periods can be met; furthermore, the method has the advantages of labor-saving, time-saving, high fertilizer utilization rate, and the like.