The invention discloses a cheap efficient high-performance cost ratio compound coal water slurry additive. The compound coal water slurry additive comprises the following various components by weightproportion: 10%-30% of naphthalenesulfonate formaldehyde polymer, 70%-80% of lignosulfonate, 1%-10% of an acidifying or alkalizing agent, 0.01 per mill-0.05 per mill of polyolefin, 0.01 per mill-0.05per mill of polyethylene oxide, 0.001 per mill-0.003 per mill polyether and 1%-3% of phosphate. The above various components are proportionally mixed and evenly stirred in the form of a power or an aqueous solution to prepare a solid powder mixture or an aqueous solution with the mass fraction lower than or equal to 40%, the solid powder mixture or the aqueous solution is added into a coal water mixture to pulp, and the use level of a dry basis is 0.5 per mill-1.5 per mill. A prepared coal water slurry is high in pulping concentration, low in viscosity, good in fluidity and stability, and strong in coal category adaptability.