The invention discloses a lobster bait. The lobster bait is prepared from the following raw materials in parts by weight:10-20 parts of wheat protein powder, 1-10 parts of oat, 10-30 parts of fish meal, 2-10 parts of rape seed cakes, 1-7 parts of plumule rice, 2-8 parts of shrimp powder, 1-8 parts of peanut powder, 5-15 parts of vegetable leaves, 2-12 parts of middling, 12-19 parts of corn flour, 5-12 parts of earthworms, 2-10 parts of wheat bran, 2-12 parts of coarse rice powder, 5-15 parts of cuttlefish visceral meal, 1-2 parts of zinc chloride, 1-2 parts of potassium chloride, 1-2 parts of beer yeast, 1-2 parts of betaine, 5-10 parts of royal jelly, 1-5 parts of cyclodextrin, and 1-7 parts of microcrystalline cellulose. The invention further discloses a preparation method of the lobster bait. The lobster bait disclosed by the invention not only can stimulate sense of smell of lobsters, but also is long in suspension time in water bodies, long in activity time, simple in preparation method and convenient to store.