The invention discloses a preparation method of a high-frequency high-Q capacitor, which sequentially comprises the following steps of preparing high-activity composite powder with a 'shell-core' structure, mixing the high-activity composite powder with an organic solvent, a dispersing agent, a plasticizer, a defoaming agent and a slurrying agent to prepare high-rheological-property casting slurry, and carrying out casting treatment to prepare a dielectric film, processing the capacitor ceramic chip into a bar block through dielectric film printing lamination, laminating the bar block into a capacitor green chip, performing high-temperature glue discharging and high-temperature sintering on the capacitor green chip to form the capacitor ceramic chip, covering the surface with a nickel layer and a tin layer, sorting after a reliability test, and packaging qualified products. The capacitor prepared by the invention has the characteristics of high Q value, low equivalent series resistanceand high self-resonant frequency, and ensures extremely low loss transmission of microwave circuit signals.