The invention discloses a textile fabric formaldehyde remover and preparation and application thereof. The textile fabric formaldehyde remover is composed of, by weight part, 8-14 parts of nano modified rectorite, 2-5 parts of 1-vinyl imidazole, 1-4 parts of acetoguanamine, 0.2-0.7 part of amidinourea phosphate, 1.2-1.8 parts of antibacterial agent, 0.5-2 parts of aromatics, 0.1-0.4 part of surfactant, 3-8 parts of polyvinyl alcohol and distilled water as balance. The textile fabric formaldehyde remover, which is prepared through reasonable formula and processes, is high in specific surface area and self-cleanliness, and compared with traditional absorbent agent of activated carbon, improves the porosity by more than 55% and prolongs the service life by more than 3 times. Meanwhile, the textile fabric formaldehyde remover obtains excellent anti-static, anti-bacteria, antifungal, radiation-proof and fabric-softening effects and achieves a formaldehyde removing rate within 20 minutes up to 99.2%, thereby being efficient and rapid.