The invention discloses a GaN-based light-emitting diode epitaxial wafer and a preparation method thereof, and belongs to the technical field of photoelectron manufacture. The epitaxial wafer comprises a substrate, a buffer layer, a non-doped GaN layer, an N-type contact layer, a stress release layer, an active layer, a P-type electron blocking layer and a P-type contact layer. The stress release layer, comprising a first sublayer, a second sublayer and a third sublayer, is arranged between the N-type contact layer and the active layer, wherein the second sublayer comprises InxGa1-xN layers and N-type doped second GaN layers laminated alternatively, so that the stress formed due to lattice mismatch of a bottom layer can be effectively released, the piezoelectric polarization effect is reduced, and anti-static performance and luminous efficiency of the epitaxial wafer are improved. The first sublayer, the second sublayer and the third sublayer are N-type doped layers, thereby facilitating current expanding, reducing resistance at the two sides of the stress release layer and increasing capacitance at the two sides of the stress release layer; and more electrons are accumulated, so that a better electron blocking effect is achieved, electric leakage channels are reduced, and furthermore, the antistatic capability is further improved.