The invention provides an ultralow-density high-strength vitrified china ball proppant. The ultralow-density high-strength vitrified china ball proppant comprises the following ingredients in percentage by mass: 20-70% of SiO2, 1-50% of Al2O3, 10-30% of B2O3, 0-15% of CaO, 0-15% of MgO, 0-5% of Na2O, 0-5% of Fe2O3, 0-5% of BaO, 0-5% of BeO, 0-5% of Bi2O3, 0-5% of La2O3, 0-5% of PbO, 0-5% of TiO2, 0-5% of ZnO and 0-5% of ZrO2. The invention also provides a preparation method of the ultralow-density high-strength vitrified china ball proppant, the preparation method comprises the step of preparation of a precursor, and the preparation of the precursor comprises the sub-steps of adding raw materials into a solvent to obtain a mixed slurry, and then performing grinding and drying to obtain a precursor powder. The prepared proppant is ultralow in density and high in strength.