The invention discloses waxberry slag feed for promoting growth of lobsters and a preparation method thereof. The waxberry slag feed for promoting growth of lobsters is prepared from, by weight, 170-180 parts of waxberry slag, 20-25 parts of krill meal, 15-16 parts of rye bran, 12-13 parts of mung bean flour, 5-6 parts of gingerade, 17-18 parts of pig blood blocks, 14-16 parts of soy sauce residue, 10-12 parts of cottonseed kernel cakes, 3-5 parts of white vinegar, 7-8 parts of mealies alcohol grains, 0.1-0.2 part of EM bacteria, 3-4 parts of astragalus membranaceus, 2-3 parts of salvia miltiorrhiza, 5-7 parts of sophora flowers, 2-3 parts of molasses, 4-6 parts of pumpkins, 1-2 parts of bananas, 13-16 parts of millet, 5-7 parts of sweet potato dietary fibers, 3-4 parts of dried hen egg yolk and 1-2 parts of sunflower oil. The waxberry slag feed is of faint scent, attractive in taste, unique in flavor and high in food attractiveness, can promote absorption and utilization of small molecular protein and amino acid of the lobsters, improves the nutritional status of organizations, promotes metabolism, promotes growth and development, improves the weight gain rate and shortens the cultivation period.