The invention discloses a biomass granular fuel prepared by using waste, wherein the biomass granular fuel comprises the following raw materials by weight: 45-95 parts of cow dung, 35-80 parts of bagasse, 28-60 parts of traditional Chinese medicine residue, 20-40 parts of wood chips, 20-35 parts of cottonseed hulls, 7-12 parts of camellia oleifera shells, 5-15 parts of fruit peels, 4-7 parts of waste mushroom sticks and 2-3 parts of a combustion improver, and the raw materials are subjected to crushing, mixing, low-temperature fermentation, high-temperature fermentation, medium-temperature fermentation, vacuum drying, high-pressure mixing and extrusion granulation to prepare the biomass granular fuel. According to the invention, the raw materials are easy to obtain, the waste utilization is achieved, the combustion heat value is high, the waste utilization rate is increased, few residues exist after combustion, and environmental protection is achieved.