The invention discloses liquid butadiene-acrylonitrile rubber with an epoxy group and a preparation method thereof. The preparation method comprises the following steps: firstly, synthesizing butadiene-acrylonitrile latex from butadiene, acrylonitrile and an unsaturated monomer with an epoxy group through emulsion polymerization; then condensing, washing, drying and dehydrating the butadiene-acrylonitrile latex to obtain the liquid butadiene-acrylonitrile rubber with the epoxy group. In the synthesizing stage of the butadiene-acrylonitrile latex, 25 to 40 parts by weight of acrylonitrile and 55 to 74 parts by weight of butadiene are added, and a molecular weight regulator is selected from any one or more of ethylhexyl 3-mercaptopropionate, isooctyl 3-mercaptopropionate, tetra(3-mercaptopropionate) pentaerythritol ester or dodecyl mercaptan. The invention further discloses the liquid butadiene-acrylonitrile rubber with the epoxy group synthesized by the method. The preparation method has the advantages that the liquid butadiene-acrylonitrile rubber with the epoxy group is synthesized with a one-step process, so that the production process flow is simplified, resin curing modification at a low temperature is realized, the modifying effect is improved greatly, and the application range of the product is enlarged.