The invention relates to composite anchor which comprises an anchor cable body as well as a cushion table, a cushion plate and an anchor plate; and an anchor cable hole is formed in each of the cushion table and the cushion plate. the top end of the anchor cable body sequentially passes through the anchor cable hole of the cushion table and the anchor cable hole of the cushion plate to connect with the anchor plate; the lower part of the anchor cable body is equipped with a cable structure which consists of steel wires in layered step distribution; and waterproof cylindrical explosives with detonators are sandwiched between the outer layer of each step and the inner layer of each step. Meanwhile, the invention further discloses an anchoring method for the composite anchorage. The composite anchorage is simple in structure, is convenient to construct, is low in cost, can provide great anchorage force, improves the anchorage effect, and can remarkably quicken project progress.