The selenium-enriched fish feed is composed of the following raw materials: soybean meal, rice bran meal, fish meal, meat and bone meal, wheat flour, corn flour, aburs cantoniensis, phyllostachys glauca leaves, tanacetum vulgare, citri reticulatae pericarpium, garlic, allium tuberosum seeds, cortex eucommiae, edible salt, compound vitamins, and yeast selenium. The soybean meal is crushed by selenium-enriched peas, the rice bran meal is selenium enriched unhusked rice bran meal and the corn flour is ground by selenium-enriched corn. The present invention also discloses a preparation method of the fish feed, which includes three steps of crushing, mixing and fermenting or four steps of crushing, mixing, liquid medicine preparing, and liquid medicine soaking. The traditional Chinese medicines and yeast selenium are added into the fish feed, which can enable the prepared fish feed to be richer in nutrition. The selenium-enriched fish feed is conducive to digestion and absorption, plays a certain health-care efficacy, improves the survival rate, reduces the morbidity, accelerates the growth speed of fish, and at the same time enable the fish flesh to be more delicious, more nutritious, and healthier for consumption.