The invention relates to a method for preparing alkali cellulose and viscose spinning adhesive from semi-wet slurry. The preparation method comprises the following steps: mixing, filtering water with a fourdrinier wire, dehumidifying, extruding, grinding, immersing for the first time, squeezing for the first time and grinding, immersing for the second time, squeezing for the second time and grinding, performing belt-type aging, yellowing, carrying out post-dissolving, mixing, filtering and defoaming so as to complete spinning adhesive preparation. According to the preparation method, pumping, drying, slitting and other production links during pulp preparation can be reduced, and the preparation can be completed by twice squeezing and grinding of pulp slush, the process is simple, the process flow becomes smaller, no new squeezing or grinding equipment is required, cost for reforming equipment is greatly reduced, conveying of fluid slurry is greatly reduced, energy consumption is greatly reduced, labor is saved, and technical grafting and transformation on an existing viscose fiber production line can be facilitated.