The invention discloses a thermoplastic elastomer foamed door seal strip and a preparation method thereof. The thermoplastic elastomer foamed door seal strip is characterized by being prepared from the following materials for preparation in parts by weight: 60 to 110 parts of styrene elastomer, 10 to 30 parts of high-density polyethylene, 10 to 40 parts of polypropylene, 60 to 110 parts of filling oil, 30 to 80 parts of mineral filler, 1 to 5 parts of lubricant, 1 to 5 parts of coupling agent, 0.1 to 2 parts of antioxidant, 0 to 5 parts of crosslinking agent and 1 to 8 parts of foaming agent. The preparation method is as follows: the styrene elastomer and the filling oil among the materials according to parts by weight are first sufficiently mixed for absorption, the other components are then added and uniformly mixed, the uniformly mixed materials are extruded by a double-screw extruder for pelletization, and the pelletized material is sent into a single-screw extruder and extruded out to be shaped. According to the preparation method, in the process of production, no wastewater and waste gas are produced, no solvents are discharged, halogen is not contained, scraps can be recycled, and a product has the advantages of good elasticity, high strength, good compressive resilience, low specific gravity, adjustable density, smooth surface and good welding effect.