The invention relates to the technical field of oil-based spacer fluid, and particularly relates to oil-based spacer fluid for well cementation and cementing and a preparation method thereof. The oil-based spacer fluid for well cementation and cementing comprises a weighting material, a wetting agent, organic soil, oil, a suspending agent, a dispersing agent, a polymer fluid loss agent, an emulsifying agent and water. The preparation method comprises the five steps, a first mixture, a second mixture and a third mixture are sequentially obtained, and finally, the oil-based spacer fluid for wellcementation and cementing is obtained. By adjusting the oil-water ratio of the spacer fluid, pollution of the oil-based drilling fluid is reduced, and finally the purposes of simplifying cementing construction, improving the success rate and reducing the cost in the oil-based drilling fluid environment are achieved. According to the invention, oil is adopted as a main mixed liquid, and the interface wettability of the oil after being mixed with the oil-based drilling fluid and cement paste is changed under the combined action of the oil and the matched additives and emulsifiers, so that the technical indexes such as compatibility, stability and density of the oil-based drilling fluid, the spacer fluid and the cement paste are improved, and the technical requirements of well cementation and cement injection can be met.