The invention discloses a water-based dry-type complex film adhesive and a preparation method thereof, belonging to the field of preparation of adhesive. The preparation method of the complex film adhesive comprises the following steps: by using monomers, an emulsifier, an initiator, a buffering agent, deionized water, a pH regulator and water-based assistants as raw materials, emulsifying, carrying out seed reaction and polymerization reaction, and compounding to obtain the complex film adhesive of which the solid content is 45-55%, wherein the monomers comprise a hard monomer, soft monomersand functional monomers; the hard monomer is styrene; the soft monomers comprise butyl acrylate and 2-ethylhexyl acrylate; the functional monomers comprise acrylic acid or methacrylic acid, 2-hydroxyethyl acrylate or 2-hydroxypropyl acrylate, and diallyl phthalate; and the emulsifier comprises ammonium alkyl ether sulfate, sodium sulfosuccinate and sodium allyloxysulfonate in a weight ratio of 2:1:(0.4-0.8). The complex film adhesive has the advantages of high bonding strength, favorable affinity and covering performance for ink, and environment protection since the content of VOCs (volatile organic compounds) is lowered.