The invention discloses aluminum alloy semisynthesis cutting liquid and a preparation method thereof. The aluminum alloy semisynthesis cutting liquid is composed by weight of 12%-20% of mineral oil, 9%-15% of surfactant, 8%-12% of antirust agent, 1%-2% of aluminum corrosion inhibitor, 3%-7% of lubricant, 8%-12% of extreme pressure agent, 0.5%-1% of defoamer, 0.5%-1% of fungicide and the balance, water. The preparation method includes sequentially adding the surfactant, the antirust agent, the aluminum corrosion inhibitor, the lubricant, the extreme pressure agent, the defoamer, the fungicide and the water into the mineral oil and evenly stirring and mixing the mixture to obtain the aluminum alloy semisynthesis. The aluminum alloy semisynthesis cutting liquid has excellent performance on aluminum corrosion inhibition performance, corrosion resistance, lubricant performance, anti-rust performance, defoaming performance, use period and the like.