The present invention relates to a non-yellowing polyurethane slurry for a hasp, and a preparation method thereof. The molecular general formula is as the follow, wherein R is aromatic nucleus-free alkyl. The concrete process of the preparation method comprises: (1) pouring a bottoming solvent into a reaction kettle, then pouring polyester polyol, terylene-grade ethylene glycol, 1,4-butanediol or 1,3-butanediol, neopentyl glycol and trimethylol propane into the reaction kettle, uniformly stirring, and then sealing and heating; (2) slowly adding hydrogenated phenylmethane diisocyanate to the reaction kettle in a dropwise manner, controlling a temperature to 85-90 DEG C, holding the temperature for 1-2 hours, adding a catalyst, and then carrying out a reaction for 40-90 minutes, cooling, adding a diluting solvent, uniformly stirring, adding acetone when the temperature is decreased to 54 DEG C, uniformly stirring, and taking the material and packaging at the temperature of 35-40 DEG C. The slurry of the present invention has characteristics of simple production process, easy operation and short curing time, and is suitable for long-term use under the ultraviolet illumination environment while the slurry is not yellowing in the use process.