The work aims to prepare a green and efficient compound vapor corrosion inhibitor for protection of carbon steel. 45# steel was used as the experimental object, and bis-morpholiumomethyl-urea, urea, and sodium dodecyl sulfonate were used as the compound components. Through polarization curve and electrochemical impedance experiment, three levels were determined and L9(33) orthogonal experiment was designed, and the best formula was screened, according to which the vapor antirust paper was made. Then, the adsorption of compound VCI on carbon steel surface was studied by X-ray photoelectron spectroscopy and contact angle measurement. The best ternary formula was selected:3 g/L bis-morpholiumomethyl-urea +2 g/L urea + 0.25 g/L sodium lauryl sulfonate. Based on this, the antirust paper was made, and its corrosion inhibition efficiency was as high as 94.05%. The contact angle of the metal surface protected by the antirust paper increased by about 11° compared with that of the metal surface protected by the base paper, showing higher hydrophobicity. The vapor antirust paper based on the optimal vapor corrosion inhibitor formula has obvious vapor antirust protection.