The present invention belongs to the technical field of structural vibration control, and provides a composite axial energy consumption device based on piezoelectricity and shape memory alloy, comprising a screw, steel pipes, stiffening ribs, steel sheets, bolt-nuts, piezoceramics, screw caps and SMA wire bundles. The mechanical energy of the structure under pressure is converted into the electric energy of the piezoceramics and then the electric energy is converted into heat energy, so that energy consumption efficiency is high and mechanical performance is good. The SMA wire bundles have large tensile bearing capacity, shape memory effect and good corrosion resistance and fatigue resistance. The number of the segments and the specifications of the piezoceramics and the SMA wire bundles can be adjusted according to the actual needs, so that the structure can be adjusted according to the size of an axial force and specific stress conditions.