A blue peacock dedicated feed comprises the following raw materials in parts by weight: 80 to 90 parts of yellow mealworm feces, 20 to 40 parts of sugarcane tail end, 40 to 60 parts of green vegetable powder, 20 to 40 parts of corn flour, 0.5 to 1 part of additive, 6 to 8 parts of traditional Chinese medicine, 16 to 18 parts of fresh filtered mud, and 0.3 to 0.7 part of composite bacteria. The preparation method comprises the following steps: adding yellow mealworm feces into water according to a weight ratio of 1:1; then adding sugarcane tail end, traditional Chinese medicine, fresh filtered mud, and composite bacteria according to the formula mentioned above, then transferring the mixture to a fermentation chamber to carry out fermentation, controlling the fermentation temperature in a range of 40-50 DEG C, carrying out fermentation for 5-8 days to obtain a fermented feed, adding green vegetable powder, corn flour, and additive into the fermented feed, transferring the mixture to a feed granulating machine, stirring, granulating the mixture to obtain particles with a particle size of 5 millimeters, and finally packaging the particles to obtain the blue peacock feed. The using amount of protein is reduced, so the feed cost is reduced. Furthermore, traditional Chinese medicine is added, and thus the feed can improve the peacock immunity, and is capable of treating and preventing the diseases.