The invention relates to the technical field of chemical engineering, and discloses a fertilizer capable of fixing soil heavy metal and a preparing method thereof. The fertilizer is prepared from, by weight, 9-11 parts of urea, 12-18 parts of phosphoric acid, 20-50 parts of alkaline potassium, 12-20 parts of reaction auxiliary, 0.6-1.5 parts of water, 15-25 parts of modified smectite powder, 0.6-1.0 part of calcium sulfate, 0.2-0.6 part of aluminum sulfate, 0.3-0.9 part of magnesium sulfate and 0.4-1.2 parts of ferrous sulfate. The used reaction auxiliary can be used as a catalyst when urea reacts with phosphoric acid and can be used for removing heavy metal ions in soil, impurity removal is omitted, no effluent or waste gas is exhausted, raw materials used in production are fully and reasonably used, and the fertilizer has remarkable environment protection benefits.