The invention discloses an electronic cigarette liquid containing tobacco extract. The electronic cigarette liquid comprises the following components in parts by weight: 1-2 parts of tobacco extract, 10 parts of deionized water, 15-60 parts of glycerol, 26.5-69 parts of propylene glycol, and 0-8 parts of auxiliary materials. A preparation method of the electronic cigarette liquid comprises the following steps of using the flue-cured tobacco leaves, drying and crushing into powder, sterilizing by ultraviolet rays, adding the deionized water, accelerating the solvent extraction, adjusting the pH (potential of hydrogen) value of the obtained extraction liquid to 10-13 by sodium hydroxide, distilling by water steam, re-extracting the distilled liquid by food level ethyl acetate, depressurizing and concentrating the extraction liquid, obtaining the water steam distilling tobacco extract, dripping into a mixture of the deionized water, the glycerol, the propylene glycol and the auxiliary materials, and uniformly stirring, so as to obtain the electronic cigarette liquid. Compared with the prior art, the electronic cigarette liquid has the characteristics that the tobacco extract has no pigment, the content of harmful matters is low, the components are simple, the water solubility and high boiling point are realized, and the electronic cigarette liquid is favorably prepared in the subsequent period.