The invention discloses a propellant for fireworks and crackers. The propellant for the fireworks and crackers is prepared from potassium perchlorate, boony carbon, sulphur, an additive, reinforcing agent powder and water according to a certain mass percentage, wherein the additive is magnesium carbonate; and the reinforcing agent powder is sticky rice powder or flour. A preparation process of the propellant for the fireworks and crackers comprises the following steps of: I, mixing the potassium perchlorate, the boony carbon, the sulphur and the additive magnesium carbonate uniformly according to the mass percentage by using a propellant-mixing machine to obtain mixed explosive powder; II, adding the reinforcing agent powder and the water in the mixed explosive powder obtained by the step I, and stirring the mixture and pressing the mixture into an explosive cake; and III, pelleting the explosive cake obtained by the step II, drying the particles in the air, and polishing and screening the particles to prepare the propellant for the fireworks and crackers. The propellant for the fireworks and crackers has the advantages of low hygroscopicity, stable properties, small using amount of the explosive, long quality guarantee period, simple preparation process, low production cost and safe and reliable use and preparation.