The invention discloses a beef tallow hotpot condiment and a preparation method thereof. The beef tallow hotpot condiment is prepared from raw materials in parts by weight as follows: 200-300 parts ofbeef tallow, 100-150 parts of glutinous rice cake chili, 15-20 parts of fresh ginger, 10-20 parts of garlic, 15-20 parts of green Chinese onion, 3-6 parts of fermented soybeans, 15-20 parts of Chinese prickly ash, 10-18 parts of table salt, 2-5 parts of rock candy, 8-15 parts of baijiu, 20-40 parts of rapeseed oil, 10-15 parts of oyster oil, 5-15 parts of celery, 15-25 parts of spices and 4-7 parts of monosodium glutamate. The hotpot condiment prepared with the method has the characteristics of being spicy, hot, fresh and fragrant, has strong fragrance and moderate taste, has no residues, andtastes healthier, safer and more delicious.