The invention discloses a controlled release compound fertilizer for corn seedling and a preparation method thereof. The seedling controlled release compound fertilizer comprises coated urea, phosphate fertilizer and potash fertilizer. Nutrient contents are that: 16-24% of N, 11-16% of P2O5, 8-12% of K2O, and preferred is 20% of N, 14% of P2O5 and 10% of K2O, wherein N:P2O5:K2O equals to 1.0:0.7:0.5. The coated urea contains a fertilizer core of common large granule urea, a coating material of polyethylene or polyurethane and 42% of nitrogen, and has an initial stage leaching rate larger than 0 and less than 2% and a release period of 50-70 d; the phosphate fertilizer is granular heavy calcium superphosphate with a P2O5 content of 40-44%; The potash fertilizer is granular potassium sulfate with a K2O content of 50-52%; and the coated urea, granular heavy calcium superphosphate and granular potassium sulfate all have a particle diameter of 3.0-4.0mm. The seedling controlled release compound fertilizer can promote early growth stage of corn, advance fertility process, raise output, reduce nitrogen amount used in early growth stage of corn and nitrogen discharge into environment, increase nitrogen utilization rate. Therefore, the seedling controlled release compound fertilizer has high economic, social and ecologic benefits.