Chemical Oxygen Demand (COD) is one of the indicators of organic pollution in water bodies. The rapid and accurate detection of COD is of great significance to environmental protection. To address the problem of COD retrieval errors in the absorption spectrum method for fluorescent organic matter solutions, a rapid synchronous COD retrieval method for the absorption–fluorescence spectrum is proposed. Based on a one-dimensional convolutional neural network and 2D Gabor transform, an absorption–fluorescence spectrum fusion neural network algorithm is developed to improve the accuracy of water COD retrieval. Results show that the RRMSEP of the absorption–fluorescence COD retrieval method is 0.32% in amino acid aqueous solution, which is 84% lower than that of the single absorption spectrum method. The accuracy of COD retrieval is 98%, which is 15.3% higher than that of the single absorption spectrum method. The test results on the actual sampled water spectral dataset demonstrate that the fusion network outperformed the absorption spectrum CNN network in measuring COD accuracy, with the RRMSEP improving from 5.09% to 1.15%.