The invention discloses a preparation method for paeonol ferulate. The preparation method comprises the following steps of: adding paeonol, ferulic acid or acetylferulic acid, and propylphosphonic acid anhydride into a reactor; with N,N-dimethylformamide as a solvent, carrying out stirring at room temperature for 8 hours; and adding a large amount of water and performing filtration to obtain the objective product paeonol ferulate. The invention also provides the application of the prepared paeonol ferulate to the field of feeds and the like. According to the invention, paeonol is adopted for structural modification of ferulic acid so as to improve the fat solubility and biological activity of ferulic acid. The reagent used in the preparation method of the invention has low toxicity, fast reaction speed, high reaction efficiency, good repeatability and low requirements on reaction equipment; and the method is simple in process and easy to operate, and can realize yield of 85-90%.