The invention discloses a red toner for color electrostatic development and a preparation method thereof. The red toner is prepared from the following raw materials in parts by weight: 85-95 parts of polyester resins, 3-6 parts of wax, 2-5 parts of red pigments, 1-3 parts of charge control agent, 1-3 parts of fumed silica and 0.5-2 parts of titanium dioxide. The toner product is prepared by carrying out premixing, mixing, cooling, coarse crushing, gas flow crushing and classifying, micropowder classifying, additive premixing, spherical processing, additive post-mixing and finally sieving and packaging procedures on the materials in sequence. The red toner and the preparation method have the following beneficial effects: compared with the traditional physical crushing methods, in the preparation method, a continuous mixer is adopted instead of an intermittent internal mixer or extruder equipment, spherical processing equipment is added, and the additive premixing and spherical processing procedures are added on the process route, thus effectively solving the problems of nonuniform dispersion and spheroidization of particle shapes.