The invention relates to an acetate starch formulation for textile sizing material, and a preparation method thereof. The acetate starch formulation comprises corn starch, caustic soda, oxidizer, reducer, and esterifying reagent, and is characterized in that the acetate starch formulation also comprises alcohol. The preparation method comprises the following steps: adding the corn starch, caustic soda and alcohol into a feed box, and stirring; sprinkling liquid oxidizer, sprinkling powdery reducer in dispersed manner, spraying with liquid esterifying reagent, heating with steam, evacuating, heating with steam to 65 DEG C, and persistently evacuating until the alcohol in the feed box is completely volatilized, distilled and recovered; and discharging, sieving, pulverizing and mixing. The alcohol solvent phase is employed to prepare acetate starch to reduce the production cost. The acetate starch replaces PVA in textile pulp application to acquire good effect, higher substitution degree, and excellent size film performance, and improve the sizing quality and level of subsequent textile sizing. The alcohol solvent phase production does not require water resource to have no waste water treatment.