The invention discloses a hexagonal crystal M+W mixed type sintered permanent magnetic ferrite magnet and a preparation method thereof. The composition formula of the hexagonal crystal M+W mixed type sintered permanent magnetic ferrite magnet is represented by Cax1Srx2Bax3LaxFe2+aFe3+bOy, wherein x1 is 0.1-0.3, x2 is 0.2-0.5, x3 is 0.1-0.4, x is 0.1-0.3, a is 0.1-1.0, b is 12.0-14.0, 12.1<=a+b<=15.0, and y=1+1/2x+a+3/2b. Lanthanum oxide is added, the mole number of iron in the M type ferrite is enhanced, and the oxygen concentration in the sintering process is controlled to provide a appropriate non-oxidizing atmosphere so as to inhibit the generation of the alpha-Fe2O3 phase, so that the M+W mixed type magnetoplumbite structure can be generated in the original M type permanent magnetic ferrite. The invention has the following advantages: (1) compared with the single-phase M type ferrite, the invention enhances the residual flux density (Br) of the material, and maintains the high coercive force (Hcj); (2) compared with the single-phase W type ferrite, the invention has simpler production technique, and can perform industrial production only by slightly adjusting the M type permanent magnetic ferrite production technique; and (3) the magnet is free of rare and noble metal cobalt, and thus, the cost is lower.