The invention relates to hydrazine waste gas absorption liquid, which comprises the following main components in percentage by weight: 0.01-15 percent of citric acid, 0.01-1.0 percent of potassium sorbate, 0.01-45 percent of calcium chloride, 0.01-45 percent of calcium nitrate, 0.01-45 percent of sodium nitrate, 0.01-20 percent of acetic acid and the balance of water; and preferably, the hydrazine waste gas absorption liquid further comprises following main components in percentage by weight: 0.01-45 percent of at least one of ethylene glycol and alcohol. The absorption liquid is prepared by following steps: adding water with volume half of that of the absorption liquid to be prepared in a container, starting a stirrer, sequentially adding, the citric acid, the otassium sorbate, the calcium chloride, the calcium nitrate, the sodium nitrate, the ethylene glycol, the alcohol and the acetic acid, adding water again to the volume to be prepared after all solid materials are added, continuously stirring for 30 minutes and stopping, and filtering residuals and insoluble matters after standing for one hour, thus obtaining clear liquid, namely, the absorption liquid.