The invention provides a preparation method of light rice bran cerotic acid wax. The method includes the following steps of deoiling, oxidation and acid pickling and water scrubbing. During deoiling,deoiled rice bran wax to be discolored is soaked in ethyl acetate, heated for melting and then cooled and sliced for use. During oxidation, the sliced rice bran wax and dilute sulphuric acid are heated to enable the rice bran wax to be melted, then the rice bran wax is added into a sodium bichromate solution and then constantly stirred, the color of the rice bran wax turns light from brown, and natural cooling and standing are conducted to make the wax delaminated from a chromium slurry solution. During acid pickling and water scrubbing, the oxidized rice bran wax is heated into a liquid thenput into dilute sulphuric acid and stirred, standing is carried out to make the wax delaminated from a water scrubbing liquid, then the mixture is added with water, stirred and heated at the same timetill the wax is totally melted, stirring continues to be conducted, standing is carried out to make the wax delaminated from the water scrubbing liquid, and the oxidized rice bran wax at the upper layer is sliced and packed after being cooled. The invention further provides the light rice bran cerotic acid wax. According to the method, the rice bran wax is oxidized by sodium bichromate to generate the rice bran cerotic acid wax which is light in color, odorless and hard in texture, micromolecular materials are effectively removed, the emulsibility and the luster are obviously improved, and deep processing is facilitated.