The invention discloses an underfill which is flowable at room temperature and is rapidly solidified at a low temperature. The underfill is prepared from the following raw materials, by weight, 20-50 parts of a liquid epoxy resin, 5-20 parts of an active epoxy diluent, 0-60 parts of spherical silicon powder, 5-20 parts of a polyester or polyester polyol, 0.1-5 parts of a catalyst, 0.2-2 parts of a coupling agent, 0.1-2 parts of a pigment, and proper amounts of a defoaming agent and a flow assistant. The invention also discloses a preparation method of the underfill. The underfill flowable at room temperature and rapidly solidified at a low temperature, which is prepared according to the method of the invention, has the advantages of reasonable composition ratio, fast flow speed, low solidification temperature, short solidification time, easy reparation, and effective improvement of the technological efficiency of a production lien of electronic products.