The invention discloses a compound toothpaste with functions of antisepsis, anti-inflammation, acid prevention and desensitization, and a preparation method of the compound toothpaste. The invention adopts natural propolis and traditional Chinese medicine with functions of analgesia, anesthesia and antiallergic effect as main effective preparations, is compounded with the traditional western medicine and is supplemented by biotechnology, so that the compound toothpaste with the functions of antisepsis, anti-inflammation, acid prevention and desensitization can be prepared. The compound toothpaste can be used for preventing and treating periodontitis, dental ulcer, enamel trauma, toothache and sensitivity of teeth, and is also capable of enhancing the self repairing capability of oral cavity tissue, enabling the gum to be healthy, improving the microcirculation, guaranteeing the oral cavity to be healthy and improving the comprehensive antiallergic capability of teeth.