The invention discloses a granular cold water soluble porous starch which is prepared by a method comprising the steps of: mixing porous starch and alcohol solution to form slurry, adding sodium hydroxide under the condition of stirring, and stirring for reaction at the constant temperature; after the reaction, leading reaction liquid to stand still or centrifuge, separating for precipitation, and washing by the alcohol solution; then, adding the alcohol solution, and neutralizing mixed solution to be neutral by using hydrochloric acid alcohol solution; filtering, washing a filter cake by the alcohol solution, drying, crushing and screening; and finally, obtaining the granular cold water soluble porous starch. The granular cold water soluble porous starch not only maintains the granular structure of the original starch and the porous structure of the surface of the porous starch, and has larger specific surface area and good absorption embedding performance, but also can be more rapidly dispersed and dissolved into the cold water, and has the dissolution rate reaching up to more than 70%. Furthermore, the preparation method is simple, and industrialized production can be easily realized.