The invention discloses a nitrogen fertilizer stabilizer composition. The nitrogen fertilizer stabilizer composition comprises the following components in part by weight: 1-60 parts of nitrapyrin, 1-15 parts of wall material, 2-10 parts of emulsifier, 0.05-0.3 parts of viscosity regulator, 2-10 parts of dispersing agent and 0.1-100 parts of water. The invention further provides a preparation method of the nitrogen fertilizer stabilizer composition. The preparation method of the nitrogen fertilizer stabilizer composition comprises the following steps of: heating and melting active components, adding the macromolecular wall material, and stirring uniformly; adding a mother liquid containing the active components and the wall material into an emulsifier-containing water solution under a shearing condition, and emulsifying into an oil-in-water state; and controlling grain size as required, wherein the nitrogen fertilizer stabilizer composition can be in a liquid or solid state; and liquid drops containing the active components react with water molecules to form the macromolecular wall material. Through addition of a nitrapyrin product, the nitrogen fertilizer stabilizer composition can improve the using efficiency of an ordinary nitrogen fertilizer by decreasing nitrogen leaching and denitrification, is good in compatibility with a variety of fertilizers, pesticides, weedicides and bactericides, and can be mixed therewith for application.