The invention relates to a preparation method of a lithium iron phosphate-ferrous lithium carbonate composite electrode material. The method comprises the following steps of mixing a carbon source, a lithium source, a phosphorus source and an iron source, drying the mixed material, sequentially roasting the mixed material at a low temperature and a high temperature under a non-oxidization gas environment, and naturally cooling the mixed material, mechanically grinding and sieving so as to obtain the lithium iron phosphate-ferrous lithium carbonate composite electrode material. The preparation method provided by the invention has the advantages that the technology is simple, the cost is low, the composite electrode material prepared by the preparation method provided by the invention has the advantages that the coated carbon content is small, the tap density is high, the specific surface area is 10-30m<2> / g, the specific capacity is high, great convenience is brought for formation of an electrode, the composite electrode material is used for a hybrid super capacitor, a lithium ion battery and the like.