The invention provides a multi-solvent preparation method of lithium iron phosphate, which comprises the following steps: 1) dissolving an iron source in water, preparing iron ion/ferrous ion water solution, adding hydrogen peroxide solution and phosphorus source solution, adding alkaline solution for regulating pH value, filtering, and obtaining iron phosphate precipitate and drying; 2) mixing iron phosphate with a lithium source, carrying out ball milling, dispersing the obtained mixture in sugar source solution, and heating suspension; 3) adding an organic solvent into the hot suspension, standing, cooling, filtering the precipitate, drying and obtaining a lithium iron phosphate precursor; and 4) increasing the temperature of the lithium iron phosphate precursor obtained in the step 3) under the protection of inert gas, keeping the temperature, obtaining the lithium iron phosphate, smashing till the particle size is less than 10 mu m, and obtaining a finished product. The product prepared by the method has the advantages of excellent electrical conductivity, distributed and centralized particle size and stable electrical properties.