The invention discloses a preparation method for an SBS (styrene-butadiene-styrene block copolymer) modified asphalt waterproof material. The method comprises the following steps of step1): weighting matrix asphalt, high purity water, SBS, butadiene styrene rubber, N-Polyoxyethylated-N-octadecylamine, hydrochloric acid, methylbenzene, stearic trimethyl ammonium chloride, polyoxyethylene nonyl phenyl ether, sulphur, polyethylene resin, calcium oxide and carbon tetrafluoride; step2): adding the matrix asphalt into a reaction still provided with a stirrer and a thermometer, heating to 170 to 190 DEG C, adding the SBS, the butadiene styrene rubber, the N-Polyoxyethylated-N-octadecylamine, the hydrochloric acid, the methylbenzene, the stearic trimethyl ammonium chloride after melting, dehydration and filtering, stirring for 15 to 55min with the stirring speed of 800 to 1200r/min; step3): adding the high purity water while stirring, heating to 200 to 220 DEG C, adding residual raw materials for mixing 40 to 80min, then adding the components stirred in the step2) to obtain a mixture, adding the mixture into an emulsifying machine to perform emulsification, cooling to 30 to 40 DEG C and defoaming to obtain the SBS modified asphalt waterproof material. The method disclosed by the invention has the advantages that the process is simple, the equipment invest is small, the energy is saved and the consumption is reduced.