The invention discloses a complex microbial inoculant for promoting wheat growth and an application thereof. The complex microbial inoculant is prepared by mixing and fermenting an Azotobacter chroococcum N24 bacterial solution, a rhizobium radiobacter J16 bacterial solution and a Klebsiella quassicola P5 bacterial solution. According to the invention, nitrogen-fixing bacteria N24, potassium bacteria J16 and phosphate solubilizing bacteria P5 are separated from rhizosphere soil of wheat, the complex microbial inoculant prepared by mixing and fermenting the three bacterial solutions simultaneously has the functions of nitrogen fixation, phosphorus dissolution and potassium dissolution, the contents of available nitrogen, available phosphorus and available potassium in soil can be greatly increased, the plant height, the fresh weight, the dry weight, the nitrogen content, the phosphorus content and the potassium content of plants are remarkably increased, the plant growth is promoted, the use amount of chemical fertilizers is reduced, the crop yield is increased, and the method has important significance in agricultural production.