The invention provides a feed additive for freshwater fishes and a preparation method of the feed additive. The feed additive is prepared from, by weight, 10-15 parts of radix angelica sinensis, 5-10 parts of cyrtomium rhizomes, 8-12 parts of medicated leaven, 6-8 parts of hawthorn fruits, 5-8 parts of dried tangerine or orange peel and 8-15 parts of composite microbial thalli. The preparation method comprises the following steps that 1, radix angelica sinensis, cyrtomium rhizomes, medicated leaven, hawthorn fruits and dried tangerine or orange peel are weighed according to the compatibility quantity to serve as raw materials in the group A, the raw materials in the group A are mixed and ground into crude powder, water is added according to 10-20 times of the weight of the medicinal materials, extraction is carried out at the temperature of 95 DEG C to 100 DEG C, filtering is carried out to obtain medicine liquid, and the medicine liquid is concentrated to 1:1 to obtain extract; 2, the composite microbial thalli are weighed according to the compatibility quantity, the extract in the step 1 and the composite microbial thalli are mixed and stirred to be uniform, pile turning fermentation is carried out for 2-3 days, a fermentation product is obtained, and the fermentation product is crushed to obtain the feed additive. According to the feed additive, the weight of Hucho taimen can be greatly increased, and the Hucho taimen cannot die after being cultured for a long time.