The invention provides compound jam. The compound jam is prepared from the following raw materials in percentage by weight: 30-40% of mulberry whole pulp, 40-50% of whole black rice syrup, 5-10% of sorbitol and 5-10% of isomaltooligosacharide. The invention also provides a preparation method of the compound jam. According to the compound jam disclosed by the invention, mulberries rich in anthocyanin and black rice are used as main raw materials, and full utilization of the mulberries and the black rice is realized, so that the physiological efficacy of the product is improved; sorbitol and isomaltooligosacharide are used for replacing cane sugar, so that the taste of the product is improved, the sweetness is improved, and meanwhile, the calorie of the product is reduced; meanwhile, the isomaltooligosacharide can promote the proliferation of intestinal probiotics, so that the health effect of the product is further enriched.