The invention discloses a bait material prepared by utilizing microbial fermentation to replace essence and a preparation method thereof. The bait material comprises, by weight, 2.8-3.8 parts of water, 3-5 parts of corn, 0.1-0.3 part of white sugar, 1.2-1.8 parts of bean pulp, 1.2-1.8 parts of rapeseed cakes, 0.5-0.9 part of wheat bran, 0.03-0.08 part of bacillus subtilis, 0.03-0.08 part of lacticacid bacteria and 0.03-0.08 part of saccharomycetes. Soft, strong and mellow fragrance generated by microorganism fermentation replaces artificially synthesized essence for fish luring, no irrigationis generated, efficient fish luring can be realized, lasting fish retaining is achieved, and the material is natural and environmentally friendly; meanwhile, organic pollutants in water can be decomposed so that the effect of purifying the water can be achieved.