The invention discloses a nursery pig feed additive with prevention and health functions. The nursery pig feed additive comprises the following raw materials in parts by weight: 2-3 parts of astragalus polysaccharide, 1-1.5 parts of brown sugar, 4-6 parts of hawthorn fruits, 4-6 parts of tangerine peel powder, 2-3 parts of liquorice, 3-4 parts of radix sophorae flavescentis, 3-4 parts of wood charcoal, 3-5 parts of talcum, 1-2 parts of deep red clay, 2-3 parts of furnace soil, 3-4 parts of honeysuckle flower powder, 3-4 parts of folium artemisiae argyi powder, 3-5 parts of folia perillae acutae powder, 3-5 parts of camphorwood bark, 3-5 parts of cucumber stem powder and 3-5 parts of pumpkin stem powder. A preparation method of the nursery pig feed additive with the prevention and health functions comprises the following steps: fully mixing the raw materials according to a ratio, uniformly stirring the raw materials and then crushing the raw materials into micro powder capable of passing through a 60-100-mesh sieve so as to obtain the nursery pig feed additive. The nursery pig feed additive with the prevention and health functions is scientific in formula, simple in preparation method and low in cost, and is capable of effectively improving the palatability of a nursery pig feed, improving the digestion-absorption functions, immunity and disease resistance of nursery pigs, remarkably improving the anti-stress capability of the nursery pigs and greatly reducing the death rate of the nursery pigs; meanwhile, the nursery pig feed additive with the prevention and health functions is free of heavy metals and drug residue and has the relatively good prevention and health functions.