The invention discloses a formula of an elevator counterweight filler composite material. The formula is characterized by consisting of the following components in parts by weight: 40-60 parts of concrete, 20-45 parts of cement, 18-36 parts of iron tailings, 11-20 parts of iron pyrite, 8-11 parts of barite, 2-6 parts of orthoclase, 3-5 parts of sanidine, 2-15 parts of willow twigs, 1-4 parts of triisopropanolamine, 4-7 parts of attapulgite, 1-5 parts of an adhesive, 1-4 parts of a defoaming agent, 2-3 parts of an anti-cracking agent, 1-4 parts of a hardening agent, 1-3 parts of a concrete anti-cracking compacting agent and 3-7 parts of water. A counterweight filler made of the formula is a composite counterweight filler, a shell is a cast iron shell, a composition of concrete, iron tailings, barite, iron pyrite and willow twigs is adopted as a filler, materials can be saved, the cost can be reduced, and due to adoption of the willow twigs in the filler, the tension strength of the counterweight filler can be improved, high strength can be achieved, and the service life can be prolonged.