The invention relates to a pepper vinegar which takes rice, wheat 
bran, pepper, water and sweet wormwood as raw materials and is brewed by 
processing the raw materials, making 
drug, making acidic blank and fermenting for a plurality of times; the pepper vinegar is prepared by the 
processing method comprising the steps of: (1) 
processing the rice, taking the water and the rice according to the weight ratio of 4-7: 1, and cooking thin gruel; (2) evenly mixing wheat and water according to the ratio of 3: 1, covering the fresh sweet wormwood on the mixture, and fermenting for at least 20 days at the 
room temperature of 12-20 DEG C to obtain the 
drug; (3) mixing the thin gruel and the 
drug and fermenting for 20-30 day at the 
room temperature not higher than 20 DEG C, wherein the dosage ratio between the drug and the thin gruel is 1:(60-100); (4) evenly stirring the wheat 
bran in the fermented rice thin gruel according to the ratio of 1:1.5 between the fermented rice thin gruel and the wheat 
bran, fermenting for at least 7 days to obtain the blank, adding drinking water into the blank, and stirring for 
precipitation to obtain vinegar which is the liquid arranged at the upper part; and (5) adding pepper, frying the pepper with the weight being 2-5% of the wheat bran until the rice pepper smell is sent out, putting the fried pepper into the vinegar, soaking for at least 30 days, and filtering the pepper to obtain the pepper vinegar with the fragrance of sweet wormwood and pepper.