A slow-release NP compound fertilizer with superabsorbent and moisture preservation was prepared by carboxyl methyl starch, acrylic acid, ammonia, urea, diammonium phosphate, and so on. The effects of the amount of initiator, crosslinker, and the degree of neutralization of acrylic acid on water absorbency were investigated and optimized. The product was characterized by FTIR, ICP, and element analysis, and the results showed that the product contained 22.6% nitrogen element and 7.2% phosphor (shown by P 2 O 5 ) element. Its water absorbency was about 85 (g ⅐ g Ϫ1 ) times its own weight in tap water. We also investigated the water retention property of the product and the slow release behavior of N and P in the product. The results showed that the product had a good water retention capacity and slow release property. The mechanism of the release of N and P in water was also investigated.