The invention discloses a black liquid dispersing dye with characteristics of high color fastness and low brightness, and a preparation method thereof, wherein the raw dye of a black dye compound, an anionic surfactant, a nonionic surfactant, a polyacrylate copolymer, amino silicone oil, benzisothiazolinone and water are mixed, and the obtained mixture is grinded to prepare the black liquid dispersing dye. According to the present invention, the prepared black liquid dispersing dye can improve the dyeing depth of the printed fabric, reduce the loose color of the dye, improve the color fastness of the dyed product, save the effective use amount of the dye when the dyeing product having the same brightness is achieved, significantly reduce the reduction washing and water washing tasks after the printing, save the water resource and the energy consumption, and reduce the wastewater treatment cost.