The invention discloses an improved cereal short biscuit. Dry materials of the improved cereal short biscuit comprise, by weight, 70-80 parts of low-gluten wheat flour, 10-15 parts of puffed quinoa flour, 10-15 parts of whole wheat flour, 5-10 parts of puffed pearl barley, 5-10 parts of quinoa oatmeal, 0.5-2 parts of composite bulking agent, 17 parts of egg liquid, 0.3 part of salt, 4.6 parts of whole milk powder, 22-26 parts of vegetable oil, 24-26 parts of white granulated sugar, 2-4 parts of high fructose corn syrup, 0.5-1 part of phospholipid amd 3-4 parts of water. The invention further provides a preparing method of the improved cereal short biscuit. According to the cereal short biscuit prepared with the method, the contents of polyphenol, 18 kinds of amino acid required by the human body, vitamins and mineral substances are higher that the contents in a common market short biscuit; if the cereal short biscuit prepared with the method is frequently eaten, the important effects of adjusting the blood glucose level and protecting the heart are achieved, and after the improved cereal short biscuit is eaten, satiety exists and contributes to weight losing.