The invention discloses a die release agent. The die release agent comprises the following components in parts by weight: 5-15 parts of die release powder, 1-10 parts of an oil compound, 0.1-1 part of an emulsification agent, 70-90 parts of a solvent, 0.1-1 part of a defoaming agent and 0.1-5 parts of graphene. The invention provides a preparation method of the die release agent. The preparation method of the die release agent comprises the following steps: emulsifying the die release powder, the oil compound, the emulsification agent, the defoaming agent, the solvent and the graphene to obtain the die release agent. According to the die release agent, the graphene can be used for enabling the die release agent to form a relatively thin, hard and dense coating on the surface of a cavity, so that the direct contact between sand and a die can be effectively isolated; the die release agent is relatively good in extensibility, film formation property and adhesive force. In addition, a casting part prepared by the die release agent is relatively high in precision.