The invention discloses a leather coating and lustering agent and a preparation method thereof. The leather coating and lustering agent is prepared from raw materials in percentage by mass as follows:0.1%-2% of organosilicone modified acrylic resin, 1%-10% of a lustering component, 1%-3% of a hydrophobic component, 3%-7% of a volatile component, 1%-2% of a wetting agent, 0.1%-1% of a thickening agent, 0.3%-0.7% of a corrosion remover and the balance of water. The components are mixed uniformly in batches, and the leather coating and lustering agent can be obtained. The formula of the leathercoating and lustering agent is safe and environmentally friendly, the preparation method is simple and low in production cost, the leather coating and lustering agent has no corrosion effect on leather, a transparent flexible coating layer can be formed on the leather surface after the agent is sprayed on the leather surface and the leather is slightly wiped by a towel, the hand feeling of the leather surface cannot be affected by the coating layer, the coating layer is high in stability and good in durability, and the leather coating and lustering agent can realize lustering, waterproof, anti-pollution and anti-aging functions for a long time.