The invention relates to the technical field of high-molecular materials and particularly relates to an LED material for filtering yellow light and a preparation method thereof. The LED material for filtering yellow light is prepared from the following raw materials in parts by mass: 60-100 parts of a base material, 1-13 parts of a yellow light filtration aid, 0.1-1.0 part of a light diffusing agent, 0.1-0.8 part of an antioxidant, 0.2-0.4 part of a dispersant DP310 and 2-26 parts of deionized water, wherein the yellow light filtration aid is one or more than one of neodymium fluoride, neodymium oxide, neodymium chloride and neodymium nitrate. The LED material for filtering yellow light, prepared by the method disclosed by the invention, is excellent in optical performances such as yellow light filtration property, light transmittance and haze and can be used for effectively filtering and eliminating yellow light generated by an LED lamp so as to relieve the fatigue of eyes and preventing the eyes from damages of yellow light. The preparation method of the LED material is simple in process, convenient to operate and control, stable in quality, high in yield, high in production efficiency and low in production cost.