The invention discloses a road dust depressor and a preparation method thereof. The road dust depressor is prepared from 0.5-10% of petroleum asphalt, 5-20% of glycerol, 1-5% of anhydrous calcium acetate, 0.5-5% of a surfactant, 1-5% of a cosolvent, 1-2% of sodium metasilicate and 55%-90% of water. The preparation method includes: at room temperature, adding deionized water into a reaction kettle, starting stirring and conducting heating to 50DEG C, adding anhydrous calcium acetate in batches, after complete dissolving, adding glycerol, after dissolving, adding the surfactant, road asphalt, the co-solvent and sodium metasilicate in order, performing stirring dissolving to a homogeneous phase so as to obtain a brown-black brown aqueous solution, and carrying out standing, cooling and filling, thus obtaining a finished product. The road dust depressor has good moisture retention, moisture absorption and adhesion, and has remarkable dust suppression effect and long dust suppression period. The product is safe to use, has no corrosion to metal, is non-toxic, can be biodegradable, has no influence to vegetation, is an environment friendly product, and can be widely applied to dust control of unpaved roads, urban asphalt pavement, strip mine roads and the like.