The invention discloses chocolate, and a coated frozen beverage and a preparation method thereof. The chocolate is prepared from sugar, milk powder, corn oil, butter, cocoa powder, cocoa mass, dextrinpowder, phospholipid, polyglycerol ricinoleate and lipase. According to the invention, the raw materials are reasonably proportioned, and in particular, the corn oil, butter and lipase are added intothe chocolate, so the viscosity of the chocolate is balanced, a crispy chocolate layer formed by the chocolate is not easy to crack and overflow, the viscosity of the chocolate is improved, the damping coefficient of the chocolate can be increased, and a settling speed is reduced.