The present invention relates to a dephophorization agent and a preparation method thereof. According to the invention, inorganic bentonite is used as a carrier, and one of metallic oxides such as iron, nickel, manganese, zinc, copper, and cerium is used as an active component with alkali metal oxide and alkaline earth metal oxide as auxiliary components, wherein the mass percentage of each component is as following: 5 to 20 percent of active component, 10 to 40 percent of alkaline earth metal oxide, 10 to 25 percent of alkali metal oxide, and the balance of inorganic bentonite. The preparation method provided by the invention includes the following steps: first, adding ammonia water to the active component of soluble metal salt for deposition, and a suspension liquid of the metal is obtained through pulping by adding water; then, adding proportional amounts of calcium oxide, sodium carbonate or sodium bicarbonate as well as bentonite and grinding the mix into a paste, leaving the paste for four hours; drying the paste after molding the paste into a bar, and roasting the same for two hours at the temperature of 300 DEG C to 400 DEG C, then a dephosphorization agent is obtained. The dephosphorization agent is of high strength, and is applicable for desorption of PH3 with low temperature and high phosphorus capacity.