The invention provides an organic inorganic compound fertilizer, consisting of the following components in portion by weight: 100 to 320 portions of fermented waste produced in gelatin bone granule production, 200 to 555 portions of peat, 35 to 180 portions of tung seed cakes, 40 to 120 portions of urea, 9 to 65 portions of ammonium phosphate and 20 to 150 portions of potassium sulfate. The organic inorganic compound fertilizer is complete and balanced in nutrition, fully utilizes resources, changing waste into valuables, protects environment, raises the yield of agricultural products, improves quality, and promotes the sustainable production of agriculture. The invention also provides a method for preparing the organic inorganic compound fertilizer.