The invention discloses freshwater shrimp ecological feed and a preparation method thereof. The ecological feed comprises the components of natural fish meal, earthworm powder, yellow mealworm powder, silkworm chrysalis meal, soybean cake powder, wheat bran, rice bran, yeast powder, carrot powder, flour, eggshell powder, shrimp shell powder, spirulina powder, radix astragali, radix isatidis, argy wormwood leaves, dried orange peel, fructus lycii, complex vitamins and an EM liquid. The preparation method comprises the steps of putting the above materials into a feed mixing machine according to the weight percentages, stirring for 40 minutes, granulating by an annular mold feed machine, drying, adding the EM liquid, and loading into bags after drying; and packaging. A formula provided by the invention is composed of a plurality of quality raw materials, and provides feed basis for producing quality freshwater shrimps. The feed prepared by the formula is comprehensive in nutrition and good in palatability, can be digested easily and absorbed fast; the freshwater shrimps grow strongly, have strong disease resistance and high culture survival rate. The freshwater shrimp ecological feed has wide available raw materials, can be operated easily and conveniently, and is reasonable in proportions and low in cost.