The invention discloses a preparing method of a polysulfide rubber sealing ring. The preparing method comprises the steps of 1, weighing raw materials, wherein liquid polysulfide rubber, propionate, epoxy groups, bisphenol-A epoxy resin, a plasticizer, a tackifier, a softener, a reinforcing agent, a flame retardant, a vulcanizing agent and a filler are weighed according to the following mass fraction; 2, modifying the liquid polysulfide rubber, wherein after the polysulfide rubber is subjected to end-capped modification through the propionate and the epoxy groups, modified polysulfide rubber is obtained; 3, pretreating the raw materials, wherein after the plasticizer is added into the liquid modified polysulfide rubber, plastifying is conducted on an open mill; 4, preparing a premix material, wherein the tackifier, the softener, the reinforcing agent, the flame retardant and a sizing material are uniformly mixed in a mixing mill, and then the filler and the vulcanizing agent are addedto continue mixing; 5, conducting vulcanization molding, wherein a mixed rubber compound is added into a mold of vulcanization equipment for vulcanization to obtain a vulcanized sealing ring green body; 6, conducting ageing resistance and trimming treatment.