The invention discloses a method for preparing ultraviolet excited or vacuum ultraviolet excited green emitting phosphor. The method comprises the following steps of: weighing Al2O3, MgO, Tb3O4 and CeO2 in a mass ratio, sieving all raw materials by using a 100-mesh sieve, mixing by a dry method, introducing one or more of BaCO3, MgCl2, AlF3, MgF2, BaF2 and H3BO3 into the uniformly mixed raw materials, and fully mixing; loading the mixed powder into an alumina crucible; firing at high temperature at reducing atmosphere; crushing the fired fluorescent powder blocks, and sieving by using the 100-mesh sieve; dispersing by a wet method to obtain slurry; controlling the particle size to be 2 to 12 mu m; sieving the slurry which is obtained by wet-method dispersing by using a 500-mesh sieve; removing the sieving residues on the 500-mesh sieve; washing with water; and suction-filtering, drying and screening to obtain the green emitting phosphor. The green emitting phosphor has the characteristics of controllable particle size, high brightness, light failure, color development and low color bleaching.