The invention relates to a preparation method of a formaldehyde-free soybean meal-based wood adhesive for artificial boards, and belongs to the technical field of adhesives. According to the invention, renewable resources, namely soybean meal, are used as raw materials, a water phase is selected as a solvent, and a process step of an alkali-acid two-step method is adopted. Epoxy resin, dicyandiamide, low-molecular-weight polyamide and soybean protein are combined for modification, a chemical reaction is carried out at the same time, and therefore the formaldehyde-free soybean meal-based wood adhesive with very high water resistance and bonding strength is prepared; the adhesive has the advantages of no formaldehyde, low viscosity, good cold pressing performance, low cost, high adhesive strength and the like; the adhesive does not volatilize formaldehyde, phenol or other harmful substances, has the characteristic of no formaldehyde, and is safe and environment-friendly, and the preparedsoybean meal-based wood adhesive is low in viscosity, convenient for applying, good in coating and pre-pressing performance, easy to spray and apply, convenient for repairing of plywood and capable of preventing a shaving board from being scattered, and the problems that a soybean adhesive is high in viscosity and difficult to spray are solved.