The invention belongs to the field of building materials, and especially relates to ultra-high performance concrete with micro-expansion and compensation shrinkage and a preparation method thereof. Raw materials include, by weight, the following components: 1 part of cement, 0.05-0.2 part of fly ash, 0.2-0.5 part of silica fume, 0.1-0.25 part of mineral powder, 0.05-0.2 part of quartz powder, 0.9-1.2 parts of quartz sand, 0.04-0.2 part of an expanding agent, 0.01-0.03 part of a water reducing agent, and 0.01-0.03 part of an expansion promotion reinforcing agent. A mixing amount of super absorbent resin is 0.4%-0.8% of a cementing material; a volume mixing amount of steel fiber is 1%-3% of a total volume of the concrete; the water-to-binder ratio is 0.16-0.22; and the compressive strength is 100-160 MPa. The ultra-high performance concrete with the micro-expansion and the compensation shrinkage has the characteristics of micro-expansion, high strength, high toughness, excellent workingperformance, and the like, and solves the problem that the expanding agent is difficult to produce effective expansion in the ultra-high performance concrete with a low water-to-binder ratio, and so,the risk of early shrinkage cracking of the ultra-high performance concrete is reduced, and the ultra-high performance concrete can maintain the micro-expansion for a long time.