The invention provides a preservative for purple Chinese yam and a preparation method thereof, relating to the technical field of preservation of vegetables and fruits. The preservative is prepared from the following raw materials by weight percent: 60-80% of traditional Chinese medicine extracting solution, 0.7-1.5% of sucrose ester, 6-12% of sodium chloride solution, 10-18% of locust bean gum solution, 0.3-0.8% of nano TiO2 and 3-8% of water, wherein the traditional Chinese medicine extracting solution is prepared from the following raw materials in parts by weight: 5-10 parts of Szechwan chinaberry fruits, 3-6 parts of herba violae, 3-6 parts of indigowoad leaves, 2-5 parts of litse cubeb, 2-5 parts of heartleaf houttuynia herbs, and 2-5 parts of seeds of cuminum cyminum L. The preservative is prepared from Chinese herbal medicines, can be used for reducing the rotting rate of the tubers of the purple Chinese yam, inhibiting the breathing intensity of the purple Chinese yam, reducing the breathing consumption, controlling the water loss of the purple Chinese yam, and prolonging the storage time of the purple Chinese yam, does not contain any residual chemical component, and can be used in a safe and environmentally friendly manner.