The invention provides a color steel slag road pavement brick and a preparation method thereof, and relates to the technical field of production of road pavement bricks. The color steel slag road pavement brick comprises a surface layer and a bottom layer, wherein the surface layer is prepared from the following raw materials in parts by weight: 17 to 25 parts of cement, 25 to 30 parts of steel slag molding sand, 18 to 20 parts of quartz sand, 5 to 10 parts of crushed stone, 3 to 6 parts of volcanic ash, 3 to 5 parts of zeolite, 3 to 6 parts of red mud, 4 to 6 parts of mixture, 0.2 to 0.4 part of quick setting agent, 1.3 to 2.3 parts of early strength agent, 0.5 to 1.5 parts of alkaline efforescence-resistant agent, 0.3 to 0.5 part of pigment powder, 1.2 to 1.6 parts of water reducing agent and 1 to 3 parts of water; the bottom layer is prepared from the following raw materials in parts by weight: 16 to 25 parts of cement, 22 to 28 parts of steel slag molding sand, 19 to 25 parts of crushed stone, and 2 to 3 parts of water. The preparation method comprises the following steps of weighing the raw materials, manufacturing the surface layer, manufacturing the bottom layer, forming, demolding, stacking and curing. The color steel slag road pavement brick and the preparation method can solve the problems of failure to reutilize the wastes, poor water permeability, low compressive strength, long manufacturing time, whitening, alkaline efforescence discoloring of the surface layer, and the like.