The invention discloses a method for preparing a nitrogen and phosphorus removal adsorbent from sludge of a water plant. The method comprises steps as follows: dewatered aluminum sludge is air-dried, ground, sieved, dried, cooled and then placed in a muffle furnace to be roasted at the temperature of 300 DEG C for 4 h, and activated aluminum sludge is obtained; powdery activated carbon, the activated aluminum sludge and zeolite powder are mixed uniformly in proportion, 100 mL of NaOH with the mass concentration being 2%-3% is added, the mixture is vibrated and modified for 12 h, then dried and taken out to be naturally aged for 2 h, bentonite serving as an adhesive is added for granulation, adsorbent particles are placed in the muffle furnace to be roasted at the temperature of 400 DEG C for 4 h, cooled, washed to be neutral with deionized water and dried at the temperature of 105 DEG C for 2 h, and the adsorbent is obtained. The adsorption material capable of adsorbing nitrogen and phosphorus simultaneously is prepared from the aluminum sludge containing activated carbon and zeolite, the adsorption effect of the aluminum sludge on ammonium and nitrogen in a water body is improved, and good phosphate adsorption performance is kept.