The invention provides a live bacteria type lotus seed and corn yoghurt beverage which is a mixture prepared by using base fermentation material, and the like, wherein the mixture comprises following components by weight parts: 30 to 50 parts of base fermentation material, 3 to 8 parts of glucose syrup, 7 to 12 parts of white granulated sugar, 35 to 55 parts of drinking water, 0.3 to 0.6 parts of stabilizing agents, and a small amount of food flavors, wherein the base fermentation material is prepared by fermenting a stock solution of the base fermentation material, which is formed by mixing lotus seed slurry, sweet corn slurry and pretreated fresh milk; and the stock solution of the base fermentation material comprises following components by weight parts: 20 to 40 parts of lotus seed slurry, 30 to 45 parts of sweet corn slurry and 20 to 40 parts of fresh milk. A preparation method of the live bacteria type lotus seed and corn yoghurt beverage comprises the steps that the lotus seed slurry, the sweet corn slurry and the pretreated fresh milk are mixed to be homogenized, sterilized, and the like at high pressure, and then inoculated to be fermented; and then the base fermentation material, the glucose syrup, the white granulated sugar, the drinking water and the stabilizing agents are prepared to obtain the live bacteria type lotus seed and corn yoghurt beverage. The beverage is rich in nutrition and performs a certain health care function; and the preparation method is reasonable.