The invention discloses compound organic fertilizer used for rice planting and having the high slow release property. The compound organic fertilizer is prepared from raw materials as follows: ammonium nitrate, monopotassium phosphate, urea, urea phosphate, calcium superphosphate, ammonium dihydrogen phosphate, potassium sulfate, magnesium sulfate, potassium nitrate, amino sodium dicarboxylate, trichoderma, yeast powder, a straw fermentation agent, cellulase, potassium mineral powder, mica powder, chitin, talc, turf powder, fly ash, conch powder, furfural residues, rice hull powder, poultry manure, corn straw, rapeseed cakes, dolomite, diatomite, calcite, humic acid, lignin, sodium bentonite, EDTA chelate, amino acid chelate, dicyandiamide, phosphoryl triamide, a slow release agent and a soil conditioning agent. The invention further provides a preparation method of the s compound organic fertilizer used for rice planting and having the high slow release property. The compound organic fertilizer has excellent slow release property and can effectively the yield and quality of crops.