The invention provides a preparing method for a modified wood powder amphiprotic dehydrating agent. The method is characterized by comprising the steps that dispersing treatment is carried out on wood powder, after alkalization is carried out, etherification reaction is carried out by adding a certain amount of 3-chloropropionic acid, a carboxyethylation product is obtained, graft copolymerization reaction is carried out on the carboxyethylation product and acrylamide, a graft copolymerization product is obtained, mannich reaction is further carried out on the graft copolymerization product, and the modified amphiprotic dehydrating agent is obtained. According to the amphiprotic dehydrating agent, due to the fact that the hydration effect and the electrostatic repulsion effect between particles with different sizes in sludge are lowered, the mutual structural constitution is improved, new sludge particles with appropriate sizes are formed, the sludge positive pressure dehydrating effect is achieved, the good dissoluvability is achieved, during processing of the sludge, generated flocculating constituents are big, the sedimentation is rapid, the water yield is high, and the processing efficiency of the sludge is improved. Compared with a traditional dehydrating agent, the amphiprotic dehydrating agent has the advantages that the pollution is low, the degradation is easy to carry out, the toxicity does not exist, the effect is good, the application range is wide, and the secondary pollution in the sludge processing process is avoided.