The invention discloses a preparation method for an AKD (Alkyl Ketene Dimer) emulsion and a water-resistant treatment method for paper sheets. The preparation method comprises the following steps of firstly, gelatinizing cationic starch, melting AKD wax powder at the temperature of 70 DEG C, then, pouring the gelatinized starch into the melted AKD wax powder, adding a stabilizer into the melted AKD wax powder, turning on an emulsifying machine to carry out emulsification, carrying out homogenization treatment on the solution, and carrying out rapid cooling, thereby obtaining the AKD emulsion. According to the preparation method for the AKD emulsion, disclosed by the invention, on the premise of guaranteeing the water resistance of the AKD emulsion, no starch etherifying process is carried out, and the gelatinized starch is directly used for emulsifying AKD after the starch is gelatinized, so that the equipment and labor investment of AKD emulsion manufacturers can be reduced, the aging efficiency of the AKD emulsion is high, the degree of hydrolysis of the AKD is greatly lowered, the water resisting effect is effectively guaranteed, and the economic benefit is obvious.