The invention relates to a microcrystalline nickel-phosphorus alloy chemical plating solution and a preparation method thereof. The microcrystalline nickel-phosphorus alloy chemical plating solution is characterized by talking deionized water as a solvent and comprising the following raw materials of, by weight, 60-120 parts of nickel sources, 90-150 parts of pH value balancing agents, 30-100 parts of reducing agents, 90-250 parts of complexing agents, 0.05-3.0 parts of surfactants, 0.01-5.0 parts of stabilizers. The preparation method of the microcrystalline nickel-phosphorus alloy chemical plating solution comprises the following steps that firstly, the components such as nickel chloride, ammonium chloride and citric acid are metered by mass and poured into a dissolving reaction kettle with stirring; the deionized water is added, and stirring and dissolving are carried out; then sodium hypophosphite is added, and stirring and dissolving are carried out; and finally additives such asthe stabilizers and the surfactants are added. The microcrystalline nickel-phosphorus alloy chemical plating solution and the preparation method thereof are mainly applied to metallization of monocrystalline silicon and polycrystalline silicon chips. Compared with the prior art, the microcrystalline nickel-phosphorus alloy chemical plating solution and the preparation method thereof have the advantages that the plating speed is high, the binding force between coatings and silicon bases of the chips is good, the coatings are fine, and the number of pores per unit area is small.