The invention discloses a preparation method for soft magnetic ferrite with high saturation magnetic induction strength and high magnetic permeability. The method comprises the following steps: adding ferrous chloride, manganese chloride, zinc chloride and nickel chloride into hydrochloric acid, after completion of dissolving, adding yttrium oxide and strontium oxide, and carrying out stirring until completion of dissolving so as to obtain a material A; dropwise adding a sodium hydroxide solution into the material A until a pH value is 9 to 11, carrying out standing and aging for 10 to 15 h, then adding triethanolamine and polyvinyl alcohol under stirring, then carrying out standing and hydrothermal reaction, and carrying out natural cooling, washing, filtering and drying so as to obtain a material B; and mixing zirconium oxide, titanium oxide, vanadium oxide, magnesium oxide, platinum oxide, molybdenum oxide, barium oxide, cerium oxide, tin oxide, indium oxide, borax, calcium carbonate, strontium carbonate and absolute ethanol, then carrying out ball milling, adding the material B and an adhesive and then carrying out uniform mixing, and carrying out pressing molding, microwave sintering and cooling so as to obtain the soft magnetic ferrite with high saturation, high magnetic induction intensity and high magnetic permeability.