The invention relates to a method for preparing a fullerene self-assembled nanometer bismuth vanadate photocatalyst. The method comprises the following steps of: (1) adding bismuth salt and a stabilizer into phosphate buffer, and stirring for 15 to 60 minutes to form suspension; and uniformly dissolving metavanadate in phosphate buffer, adding into the suspension, and uniformly stirring to obtain a transparent solution; and (2) regulating the pH value by using an alkaline solution, adding fullerene at the temperature of between 20 and 100 DEG C, stirring and mixing, refluxing for 6 to 24 hours, centrifuging, filtering, washing, calcining the obtained product, cooling, and grinding. The method is low in cost, simple and practicable, low in equipment requirement and high in operability; and the prepared fullerene powder bismuth vanadate is uniformly self-assembled, can efficiently degrade persistent toxic and harmful substances under the conditions of ultraviolet light and visible light, is easy and convenient to recycle, and is particularly suitable for the deep treatment of wastewater.