The invention discloses a compound type chlorinated polyethylene waterproof roll and a preparation method of the compound type chlorinated polyethylene waterproof roll, which solve the problems in the construction and use process of spraying polyurea waterproofing coating in the prior art. The adopted technical scheme is as follows: the compound type chlorinated polyethylene waterproof roll comprises the following components in parts by weight in the formula: 90-120 parts of chlorinated polyethylene, 2-30 parts of filling-reinforcing agent, 10-45 parts of softening plasticizer, 0.1-2 parts of phenolic antioxidant, 3-10 parts of heat stabilizer, 0.4-1.5 parts of light stabilizer, 3-8 parts of lubricant and 0.5-3 parts of other agents; the phenolic antioxidant is blended by 30-40% of antioxidant 1076 and 60-70% of antioxidant DSTDP; and the other agents are processing-modifying agents ACR-201 or ACR-301.