The invention relates to metal-coated composite powder, in particular to a sonochemistry preparation method allowing the surface of copper powder to be coated with a nickel and phosphorus alloy layer. The method is characterized in that high-energy ultrasonic agitation is effectively added into a traditional process of chemical plating, and the cavitation effect, the oscillation effect and other effects of the high-energy ultrasonic agitation are utilized, so that the preparation efficiency of composite copper powder coated with nickel is improved, and the problems of powder accumulating and the like are solved. In addition, when the copper powder coated with the nickel and phosphorus is prepared, sodium hypophosphite is used as a reducing agent of an acidic chemical plating solution, and the plating solution is easy to prepare and high in stability; due to the fact that activating treatment is carried out on the copper powder through hydrochloric acid before plating, the defect that traditionally, when salt activation and sensibilization are carried out on the surface of the copper powder, precious metal palladium salt is brought into the plating solution, so that the plating solution is decomposed is overcome, and also the activation processes of the powder are simplified. Meanwhile, because the high-energy ultrasonic agitation is kept in the whole plating process, the prepared composite powder is excellent in dispersity, the coating layer of the powder is complete and uniform, the plating of the powder is compact, and the powder is in an amorphous state.