The invention discloses a lotus seed lily tea and a preparation method thereof. The lotus seed lily tea is prepared from the following raw materials: 60-80 of Fagopyrum tataricum, 15-20 of lotus seed, 20-30 of lily, 6-8 of salangid, 8-10 of fresh milk, 6-8 of spina date seed, 4-5 of lophatherum gracile, 4-6 of Valeriana officinalis radix, 3-4 of Iris confusa Seuluy, 8-10 of fried malt, 3-5 of dendrobium flower, 3-6 of perilla seed powder, and 20-30 of lotus root juice. According to the lotus seed lily tea prepared by the method provided by the invention, color protection and oxidation prevention are employed, the functional components are maximumly preserved, also baking and cold soaking are employed so as to precipitate beneficial ingredients more easily, and compounding with other traditional Chinese medicines are realized, the health care value is enhanced, the taste and flavor are improved and reconciled, Fagopyrum tataricum is endowed with flavor, and organic combination with tea is achieved. The lotus seed lily tea is convenient to store and eat, can be drinkable after brewing, has light yellow and transparent tea color, is sweet and mellow, has the efficacy of nourishing yin and clearing heat, nourishing heart and tranquilizing mind, benefiting blood and tonifying deficiency, etc., can regulate constitution, eliminate fatigue, improve insomnia, neurasthenia and other symptoms, and is beneficial to body health.