The invention discloses a suspension liquid-state iron-containing composite reagent as well as a preparation method thereof and a method for efficiently removing selenate in water and belongs to the technical field of water treatment. The method for efficiently removing selenate in water comprises the following three steps: step one, preparing the suspension liquid-state iron-containing composite reagent from zero-valence iron powder, water, hydrogen peroxide and hydrochloric acid; step two, removing selenate by using the suspension liquid-state iron-containing composite reagent, and integrally adding the prepared suspension liquid-state iron-containing composite reagent containing a solid phase, a colloidal phase and a liquid phase into selenate-containing water to be treated; and step three, carrying out solid-liquid separation. The suspension liquid-state iron-containing composite reagent has the advantages that the iron-containing composite reagent is simple to prepare and low in cost of raw materials, the iron-containing composite reagent contains a plurality of reduction active components, the removal of selenic acid through a reduction method is facilitated, and the iron-containing composite reagent is rich in colloidal phase and high in efficiency of transferring mass with solution, has both adsorption and flocculation effects, is capable of efficiently removing selenate, can still efficiently operate in the co-presence of anions such as high-concentration sulfate radicals and the like, is especially applicable to high-salt selenium-containing wastewater, is environmental-friendly, and is free of secondary pollution.