The invention provides a lithium vanadate composite electrode material, which is prepared from lithium vanadate and insoluble phosphate, wherein the insoluble phosphate covers the surface of the lithium vanadate. When the lithium vanadate composite electrode material is applied to a lithium battery positive electrode, the circulation performance of the lithium battery can be effectively improved. The invention also provides a preparation method of the lithium vanadate composite electrode material. The method has the advantages that the conditions are mild; the operation is simple; the method is suitable for large-scale industrial production; wide application prospects are realized.