The invention relates to a preparation method of branched polystyrene-maleic anhydride, comprising the steps of: (1) under normal pressure, dissolving p-vinylbenzyl mercaptan, styrene, maleic anhydride, and an initiator for free radical polymerization in a polymerization solvent; (2) under stirring, heating the solution obtained in step (1) to a temperature of 30-40DEG C and introducing nitrogen to the solution, sealing the reaction container, keeping stirring, raising the temperature of the solution to 65-80DEG C and preserving the heat for a reaction of 10-24h; (3) after the reaction, conducting pumping filtration to the solution obtained in step (2), leaching the solid from filtration with a hot precipitating agent, then dissolving the solid in an organic solvent, filtering out insoluble impurities therein, conducting precipitation and pumping filtration to the obtained solution in a precipitating agent, subjecting the solid obtained from filtration to dissolution, precipitation and pumping filtration, and carrying out vacuum drying to the generated solid. According to the invention, the polymerization conditions are mild, the polymers have controllable structural performance, and the polymerization product has excellent performance, simple and convenient preparation operations, as well as good application.