The invention relates to a binding agent, a preparation method and a 
grinding wheel, and belongs to the technical field of abrasives and 
grinding tools. The binding agent is mainly prepared from the following raw materials by 
mass percent: 70% to 85% of 
gypsum, 1% to 12% of 
glass fiber powder and 8% to 18% of clay. According to the binding agent, the raw materials coact with each other in a limited dosage proportion range, so that a compound high-temperature sintered product has relatively high strength, proper 
hardness and good 
plasticity; during preparation of the 
grinding wheel, the binding agent is mixed with water according to a suitable proportion, the forming speed is high, 
sintering is not carried out in the follow-up steps, and only natural 
drying or accelerated 
drying is required; 
sintering is not required, and the hardening speed is high, so that various problems like 
cracking and foaming occurring in traditional 
ceramic bond 
sintering are avoided; the binding agent is applicable to grinding wheels for low-speed and high-precision grinding, and the prepared 
grinding wheel is sharp and is high in grinding efficiency; the binding agent is applicable to various abrasives, the holding force for the abrasives is good, and the binding agent has universality; and the raw materials of the binding agent are easy to obtain, the cost is low, and the binding agent is applicable to large-scale industrial production.