The invention discloses a novel crystal mud bonsai cultivation method for fish and vegetable co-cultivation. The method includes adopting crystal muds in different colors formed using nutrient solution, amino acid liquid fertilizer and rooting agent as substrate, adopting a water floating seedling technology, matching a movable, permeable gauze bag to an ordinary flower water cultivation glass jar, filling with the crystal muds, and transplanting highly-ornamental vegetable or flower seedlings into the crystal muds. Compared with the prior art, the novel crystal mud bonsai cultivation method has the advantages that plants are planted on the crystal muds and fishes are cultured below the crystal muds in water, the problem of anoxia since plant roots are soaked in water in a long term is solved, and the problem of long-term nutrition supplying for plants can be solved; since the crystal muds are nutrient and permeable and have transparent and bright colors, attractiveness of bonsais is improved, the varieties of cultured plants can be increased, the bonsais can be used for viewing leaves, flowers, roots, fruits and fishes, and good ornamental effect is provided.