The invention discloses a water reducing agent with high cement compatibility, which comprises component A and component B, and the raw materials of component A are: isopentenol polyoxyethylene ether, reducing agent, acrylic acid, hydroxyethyl methacrylate, Chain transfer agent, polyethylene glycol diacrylate, oxidizing agent and water; the preparation method of component B is: (1) ball mill the mixed powder of calcium aluminum silicate and calcium sulfate, and sieve; (2) configure sodium borate, phosphoric acid Sodium aqueous solution, heat the sieved powder to 1200-1250°C, keep it warm for 1-2h, then immerse it in the solution and water-cool it to room temperature, take it out after cooling, repeat the heating and keeping warm, soaking process twice; finally solid-phase washing, drying, Obtain solid phase A; (3) configure the aqueous solution of maleic acid and N,N-dimethylformamide in the container, soak solid phase A wherein, heat, keep warm, air-cool, filter, wash, dry, obtain Component B. The invention improves the compatibility between the concrete and the water reducing agent, reduces the hydration speed, improves the fluidity, and has very good use effect.