The invention discloses compound chili paste. The compound chili paste is mainly prepared from main materials and auxiliary materials, wherein the main materials comprise chilies, soybean paste and seasonings; the auxiliary materials comprise chicken soup and oyster sauce; the chilies are fresh chilies; the seasonings comprise spices; the main materials comprise the following components by weightpercent: 60-68% of the chilies, 33-35% of the soybean paste and 0.6-1% of the seasonings; the soybean paste is prepared from 28-32 olive oil, 30-38 soybeans, 4-12 fermented flour sauce, 2-4 ginger, 3-6 garlic, 2-4 monosodium glutamate, 1-3 pepper, 2.5-4 table salt, 2-5 cooking wine and 6-15 platycodon grandiflorum. A preparation method of the compound chili paste comprises the following steps: 1,add an appropriate amount of oyster sauce into the minced fresh chilies and stirring evenly; 2, adding the evenly stirred fresh chilies into an oil pan; 3, putting the ground soybean paste and the seasonings into the oil pan and stirring uniformly; finally, boiling in a pot by using a small fire. The product is high in nutritive value.