The invention discloses a broad-spectrum functional fish bait and a preparation method thereof. The fish bait is prepared from, by weight, 20-30 parts of wheat germ, 15-20 parts of potato flakes, 10-20 parts of dried small shrimps, 2-6 parts of soybeans, 5-7 parts of red granules, 2-6 parts of soybean dietary fibers, 0.05-0.1 part of sodium cyclamate, 0.2-0.6 part of fennels, 1-4 parts of silkwormchrysalis, 0.02-0.06 part of B+G, 0.02-0.06 part of ethyl maltol, 10-15 parts of fermented powder, 3-5 parts of plant fiber, 0.5-0.8 part of fresh milk extract and 15-22 parts of vital gluten powder.The fish bait is reasonable in formula design, can be soft and elastic in state, lasting in state and non-useless after repeated bait beating and rubbing by adding the soybean dietary fibers, has theadvantages that the integral compactness and viscosity and the hook-attaching property of the fish bait are greatly improved and the fish bait is non-sticky by adding and applying a suitable amount of plant fibers, has a fine and smooth material body, enhanced palatability and enhanced mouthfeel, integrates luring and fishing, can be used in the form of single package, and can be rubbed or pulledand is simple in operation; the activity and appetite of the fish are improved, and fish catch is increased.