The invention relates to a lovastatin and niacin sustained-release preparation. Each tablet contains 500mg niacin and 20mg lovastatin according to weight proportion; matrix tablets preparation technology is adopted to prepare the niacin as a sustained-release share and the lovastatin as a quick-release share; and the two shares are compressed to be a compound sustained release tablet. The compound preparation is mainly used for treating hypercholesterolemia, and the HDL is increased by 41%, the LDL is decreased by 45%, and the triglyceride is decreased by 42% after one year treatment. The development of the sustained release tablet can effectively control the release of medicament so that the medicament release rate can reach a preset value, the blood concentration is smoother and the fluctuation phenomenon lead by common preparation is decreased. The invention ensures that not only the toxic side effect caused by the common preparation is reduced, and the deficient of frequent medicine taking is overcame but also the situations of missing or forgetting are avoided and the use is convenient for a patient. When the two are jointly used, synergic action is obtained. The invention has simple preparation process and is suitable for industrial production.