The invention discloses child development formula milk powder. DHA, phosphatidylserine and choline are combined to facilitate child brain development, lutein is added for protecting child eyesight, the components are reasonably combined with substances such as raw milk, various vitamins, mineral substances and dietary fiber (fructo-oligose and galactooligosaccharide) to give play to the synergistic effect, the effect of promoting comprehensive development of the brain, eyesight and the whole body of children of 3-7 years old is achieved, and the milk powder is good in taste and comprehensive in nutrient. The invention further provides a preparation method of the child development formula milk powder. The child development formula milk powder is obtained through the steps of raw milk inspection and acceptance, milk purification, pre-pasteurization, dosing, preheating, homogenizing, sterilization, condensation, spray drying, cooling and the like in sequence, the steps are simple, the process is easy to control, the nutritional ingredient losses are small, the method is applicable to preparing child formula milk powder, and the obtained milk powder is applicable to children of 3-7 years old.