The invention relates to a preparation method of a vitamin B12 crude product. A process comprises the following steps: acidifying and hydrolyzing pseudomonas denitrificans, carrying out flocculent precipitation and filtering, and respectively collecting filter residues and filtrate; extracting the filter residues with an acetone composite solvent, mixing the extracted filter residues with the filtrate, and then performing macroporous resin adsorption, acetone aqueous solution desorption and vacuum concentration to obtain a concentrated solution; and performing converting with a cyanamide aqueous solution and crystallizing with acetone to obtain the vitamin B12 crude product. According to the method disclosed by the invention, cobamamide in fungus dregs is extracted by adopting a mixed solution consisting of acetone, isopropanol and water, so that the extraction yield can be effectively improved, the production operation coherence is high, and the generated wastewater amount is small; and cyandiamide is used as a transforming agent to replace sodium cyanide and potassium cyanide, VB12 hydrolysis is not easily caused in the transformation process, the transformation yield is good, the toxicity of the cyanamide is low, the safety and environmental protection pressure is reduced, and enterprises can safely and orderly carry out daily production and operation.