The invention relates to a preparation method of a compound with high sound attenuation performance. The method comprises the following steps of (1) respectively preparing pretreatment hollow fiber 1 and pretreatment hollow fiber 2; (2) sequentially adding rubber, plastics, resin, auxiliary agents, filling materials, plasticizers and the pretreatment hollow fiber 2 into a banburying machine; performing banburying to obtain a mixed compound; and performing sheet discharging by a high-temperature three-roller calendering machine to obtain a rubber sound attenuation layer; and (3) coating non-setting adhesives on the single side of the rubber sound attenuation layer compound obtained in the step (2); and compounding the rubber sound attenuation layer compound with a porous sound absorption material layer to obtain the sound absorption and noise reduction rubber compound. The preparation method has the advantages that the hollow short fiber is subjected to pretreatment, and is applied to a rubber compound; the damage of the hollow fiber in the processing process of the rubber compound is well avoided, so that the rubber compound has the excellent noise reduction performance in low-frequency noise; and after the rubber compound is compounded with the porous sound absorption layer, the compound has the characteristics of good all-frequency sound attenuation effect, excellent low-frequency sound attenuation effect and green and environment-friendly effects.