The invention discloses a compound dexamethasone acetate cream composition comprising the following components by the weight percentage: 0.05%-0.1% of dexamethasone acetate, 0.5%-1.5% of camphor, 0.5%-1.5% of menthol, 20%-40% of a cream matrix material, 0.5%-2.5% of dimethyl sulfoxide, 0.02%-0.08% of a pH regulator, and the balance being water. The stability of the compound dexamethasone acetate cream composition provided by the invention is obviously improved compared with the prior art. The invention also discloses a preparation method of the compound dexamethasone acetate cream composition.