The emamectin benzoate B2 suspending agent is prepared from the following components in percentage by mass: 1%-15% of emamectin benzoate raw medicine, 3%-6% of a dispersing agent, 1%-2% of a thickening agent, 3%-5% of an anti-precipitating agent, 0.1%-0.3% of a defoaming agent, 2%-5% of an anti-freezing agent, 0.1%-0.3% of a preservative, 1%-2% of an antioxidant and the balance of deionized water. The invention relates to a preparation method of an emamectin benzoate B2 suspending agent. The preparation method comprises the following steps: adding deionized water into a modulation kettle; mixing the emamectin benzoate active compound with the auxiliary agent, adding the mixture into the modulation kettle, supplementing with deionized water, stirring, and uniformly mixing; feeding the mixed material into a shearing kettle for shearing; pouring the sheared mixed material and the auxiliary agent into a sand mill for grinding; and sampling, and discharging after all detected indexes are qualified to obtain a finished product. The product is a biological pesticide which is efficient, broad in spectrum, low in toxicity, low in residue and long in lasting period, has a good killing effect on lepidoptera pests, is pollution-free, is a first choice for agricultural products, does not generate waste gas, waste water and waste residues in the production process, is free of dust harm and is safe to operators and the environment.