The invention discloses a preparing method of a wood base compounding electrode material. The preparing method comprises the following steps of cutting wood to obtain cross section wood thin sheets; conducting surface esterification treatment on the wood thin sheets in mixed liquid of concentrated nitric acid and dichloromethane; after soaking the esterified wood thin sheets in graphene oxide dispersing liquid, conducting freezing and lyophilization treatment; then conducting a reduction reaction on the wood thin sheets, to which graphene oxide is attached, into a hydrothermal reaction kettleloaded with hydrazine hydrate and ammonium hydroxide; then soaking the reduced graphene oxide wood thin sheets into mixed liquid of conducting macromolecular monomers and a hydrochloric acid solution,dropwise adding mixed liquid of ferric trichloride, ammonium persulfate or potassium peroxodisulfate and the hydrochloric acid solution into the mixture to be subjected to an in situ polymerization reaction to obtain the wood base compounding electrode material. The invention further relates to the wood base compounding electrode material prepared through the method.