The invention provides high-solid-content NEPE solid propellant slurry, propellant and a preparation method, and belongs to the technical field of solid propellant. The preparation method of the slurry comprises the following steps that raw materials are weighed, wherein the raw materials comprise ammonium perchlorate, ammonium nitrate explosives, aluminum powder, an adhesive system, a curing agent and a functional agent, the aluminum powder is superfine aluminum powder or a mixture of the superfine aluminum powder and FLTQ1 aluminum powder, and the particle size d50 of the superfine aluminumpowder ranges from 2.5 micrometers to 13 micrometers; part of the adhesive system and the weighed aluminum powder, ammonium nitrate explosives and functional agent are mixed, a mixture is obtained, and the mass of part of the adhesive system accounts for 9.5% to 12% of the total mass of the raw materials; the weighed ammonium perchlorate and ammonium nitrate explosives are added into the obtainedmixture, mixing is carried out, then the curing agent and the remaining adhesive system are added, mixing is carried out, and the propellant slurry is obtained. According to the high-solid-content NEPE solid propellant slurry, propellant and the preparation method, the process performance of the propellant slurry can be obviously improved on the premise of not influencing the energy, mechanical property and mixing time of the propellant.