The invention relates to the technical field of liquid polishing wax, in particular to aluminum alloy liquid fine polishing wax and a preparation method thereof, and the aluminum alloy liquid fine polishing wax comprises the following components: mineral oil, fatty acid, grease, an emulsifier, a surfactant, an alkaline brightener and an abrasive. The aluminum alloy liquid fine polishing wax is high in polishing efficiency and good in surface effect. The preparation method of the aluminum alloy liquid fine polishing wax comprises the following steps that under the stirring condition, water, the alkaline brightener, the surfactant, the emulsifier and the abrasive are stirred to be completely dissolved, and a uniform mixed solution is obtained; and when the temperature of the mixed solution reaches 75 DEG C or above, adding mineral oil, grease and fatty acid, stirring to obtain an emulsion, continuously stirring for continuous emulsification, and stopping stirring and heating to obtain the aluminum alloy liquid fine polishing wax. The preparation method of the aluminum alloy liquid fine polishing wax is low in process equipment investment, simple and convenient in process operation, and capable of producing the high-quality and high-stability aluminum alloy liquid fine polishing wax.