The invention relates to high-purity liquiritin prepared from glycyrrhizic acid powder and a preparation method thereof, and the method comprises the following main steps: taking the glycyrrhizic acid powder, adding an appropriate amount of dilute ammonia water for dissolution, filtering, adding an appropriate amount of organic solvent for extraction, concentrating the upper layer of an extraction liquid and getting a liquid extract of total flavonoids of liquoric root; taking the liquid extract of the total flavonoids of the liquoric root, adding an appropriate amount of water, stirring, dissolving, filtering, enabling a filtrate to pass through a polyamide column, firstly using an appropriate amount of water for eluting and removing water-soluble impurities, further using an alcohol solution with a certain concentration for eluting, collecting the eluate, performing vacuum concentration, placing, crystallizing, and getting a crude product of the liquiritin; taking the crude product of the liquiritin, adding an appropriate amount of solvent, dissolving, filtering, placing, crystallizing, filtering, drying, and getting the high-purity liquiritin; and adopting the high-performance liquid phase chromatography for determination, wherein the content range of the liquiritin is 80-95%. The liquiritin produced through the technical scheme provided by the invention has high purity, low cost, stable and controllable quality, and low requirement on equipment and is applicable to industrial production.