The invention discloses a special fertilizer with medical fertilizer slowly released and water conserved for seedlings growth which is characterized in that the fertilizer mainly consists of the following ingredients according to weight propotion: 5-10 percent of super-absorbent resin, 8-20 percent of nitrogen (N), 5-12 percent of phosphorus pentoxide (P2O5), 3-7 percent of potassium oxide (K2O), 1-3 percent of zinc (Zn), 1-3 percent of ferrite (Fe), 1-5 percent of ingredients of boron, magnesium, molybdenum, manganese and copper, 0.2-2 percent of pesticide, 0.1-2 percent of fungicide, 0.001-0.01 percent of root growth promoting agent and 0.001-0.01 percent of dwarfing agent and the rest is adsorbent. The special fertilizer with medical fertilizer slowly released and water conserved for seedlings growth of the invention has functions of good water holding and supplying, slow releasing of medical fertilizer, seedlings and roots strengthening, elements applying and growth promotion, diseases prevention, insect disinfesting and production increasing, and is characterized by less dosage, low cost and convenient application, etc., and can be applied to rice seedlings dry raising, seedling raising on plastic trays and upland crops raising.