The invention relates to a binary compound flooding compound and a preparation method thereof, mainly solving the problems that the oil displacement agent containing surface active agents has poor oil displacement efficiency and high using concentration under the high-temperature and high-salt conditions, and corrosion and scale deposition to a stratum and an oil well, caused by alkali in the ternary compound flooding, happen in the prior art. The binary compound flooding compound comprises the following components in percentage by weight: (1) 0.01-5.0 percent of N,N-bi fatty acyl group diamine neopentanoic acid di-polyoxyethylene ether bisulphonate; (2) 0.01-3.0 percent of polymer; (3) 92.0-99.98 percent of formation water, wherein in the general molecular formula of the component (1), R1 is C9-C17 alkyl group, R2 is C2-C6 alkyl group, n is adding composite number of ethoxy groups (EO) and is one integer from 2-7; M is one metal ion of K, Na or Li; the polymer is selected from one ofpolyacrylamide with superhigh molecular weight (viscosityaverage molecular weight is 25,000,000), temperature-resisting and salt-resisting polymer or xanthogen gum, and water is selected from the formation water of the oil field. By the technical scheme, the problems are better solved, and the binary compound flooding compound is suitable for tertiary oil recovery production in the oil field.