The invention relates to a preparation process of water swellable rubber which relates to the technical field of waterproof materials for concrete road and bridge building and is characterized rubbery being prepared by mixing, milling and vulcanizing natural rubber, a modified starch grafted acrylate copolymer and an additive, wherein raw materials are in the following parts by weight: 10-60 parts of natural rubber, 10-40 parts of modified starch grafted acrylate copolymer, 0.3-3 parts of sulfur, 1-2 parts of vulcanization accelerator, 1-5 parts of zinc oxide and 0.5-2 parts of stearic acid. The preparation process is simple and has unique principle; and a prepared product has better elasticity, strength and extensibility, particularly has water swelling property, higher swelling rate and good water preventing and stopping effects and simultaneously has corrosion resistance to organic solvents, such as acid, alkali, salt, oil and the like, superior aging resistant performance, no flow at high temperature, no embrittlement cracking at low temperature, long service life, convenient construction, lower cost, no toxicity, no pollution and wide application range.