The invention discloses an anti-mildew rubber preparation method with regenerated rubber as a base body, which comprises five processes: raw material ratio, plasticization, mixing, sheet forming and molding, wherein, the ratio of raw materials is: 60 to 80 percent of ethylene propylene diene monomer regenerated rubber, 20 to 40 percent of ethylene propylene diene monomer, 5 to 10 percent of zinc oxide, 0.5 to 1.5 percent of stearic acid, 5 to 35 percent of carbon soot, 5 to 35 percent of light calcium carbonate, 0.5 to 1.5 percent of age inhibitor RD, 0.5 to 1.5 percent of age inhibitor MB, 0.5 to 2.0 percent of sulfur, 0.5 to 2.0 percent of accelerant M, 0.5 to 2.0 percent of accelerant TT, and 0.5 to 1.5 percent of 5, 6-dichloro benzoxazolinone, and the anti-mildew rubber is prepared through processes such as the plasticization, the mixing, the sheet forming, the molding and so on. The anti-mildew rubber has good anti-mildew performance and physical mechanical performance, fully utilizes a renewable resource of waste rubber, and reduces the cost, and contributes to environmental protection and energy conservation.