The invention discloses sargassum pallidum polysaccharide selenium as well as a preparation method and an application thereof. The preparation method mainly comprises steps as follows: raw material pretreatment, hot water extraction, decoloration, deproteinization, freeze drying and selenylation reaction, wherein the selenylation reaction is implemented as follows: sargassum pallidum polysaccharide and dilute nitric acid are mixed and stirred at the room temperature, sodium selenite and barium chloride are added respectively, the mixture is heated to 60-80 DEG C, stirred and mixed uniformly toreact at the microwave power of 100-500 W for 3-5 min, a sargassum pallidum polysaccharide selenium solution is obtained, cooled to the room temperature, placed in a dialysis bag for dialysis and freeze-dried, and sargassum pallidum polysaccharide selenium is obtained. The preparation method is simple, the reaction condition is mild, the sargassum pallidum polysaccharide selenium is pollution-free and high in selenylation degree, has remarkable alpha-glucosidase inhibition activity, has the activity superior to that of acarbose and can remarkably improve the antioxidase activity of cells andreduce the content of malondialdehyde, a dietary supplement with antioxidant and blood sugar reducing efficacy can be developed, and the sargassum pallidum polysaccharide selenium can be applied to the field of food or medicines.