The invention relates to the technical field of feed additives, and provides a liquid feed additive for ruminants. The liquid feed additive is composed of the following components in percentage by weight of 60-70% of clostridium butyricum fermentation waste liquid, 3-8% of traditional Chinese medicine extract, 1-5% of chitosan, 2-6% of rumen acidity stabilizer, 5-10% of calcium supplement, 10-15%of propylene glycol, 0.5-3% of pH regulator and the balance of purified water. The preparation method comprises the following steps of heating purified water to 40-50 DEG C, dissolving the traditionalChinese medicine extract, the chitosan, the rumen acidity stabilizer and the calcium supplement into the purified water, heating to 100 DEG C, boiling for 30 minutes, cooling to room temperature, adding the clostridium butyricum fermentation waste liquid, and adding the pH regulator, thereby obtaining the liquid feed additive. The clostridium butyricum fermentation waste liquid is directly treated, secondary fermentation is not needed, meanwhile, the composite liquid feed containing probiotics, probiotic materials, rumen fermentation function regulators and the like is produced, and the probiotics and water-soluble probiotic materials in clostridium butyricum are applied to ruminant animal breeding.