The invention discloses a method for preparing compound microbial fertilizer by utilizing bacillus laterosporus and bacillus subtilis. The ingredients of the compound microbial fertilizer are: organic fertilizer of 50 percent to 70 percent, inorganic fertilizer of 20 percent to 40 percent and microbe of 2 percent to 8 percent. The microbe specifically comprises the bacillus laterosporus and the bacillus subtilis. The production process comprises that: 1. the bacillus laterosporus and the bacillus subtilis are planted in a PDA culture medium inclined plane to make the bacterium suspension, andthen are sprayed on the carrier so as to make spore powder. 2. the ingredients comprising livestock manure of 25 percent to 30 percent, kitchen garbage of 10 percent and 15 percent, soil carbon of 15percent to 20 percent, fungus chaff of 15 percent to 20 percent, straw powder of 10 percent to 15 percent, lemery salt of 5 percent to 10 percent, monocalcium phosphate and ordinary superphosphate of5 percent to 15 percent, calcium-magnesia phosphate fertilizer of 3 percent to 5 percent, boric sludge of 5 percent to 10 percent, green copperas of 0.5 percent to 1 percent, plaster of 1 percent to 2 percent and lime of 1 percent to 1.5 percent are mixed round equably, and the moisture is adjusted to 55 percent to 60 percent, and the organic fertilizer can be made after being fermented in a fermenter. 3. the bacillus laterosporus and bacillus subtilis spore powder of 2 percent to 8 percent are mixed round with the inorganic fertilizer of 20 percent to 40 percent and the organic fertilizer of50 percent to 70 percent equably, and then which are delivered into a drum granulator for granulation, after that, which are dried, cooled and screened to be packed.