The invention is applicable to an electrooptical modulator, and provides a graphene electrooptical modulator and a preparing method thereof. The graphene electrooptical modulator comprises a substrate, a double-layer graphene perpendicular narrow slit optical waveguide structure, a first electrode, a second electrode, a light input end and a light output end, wherein the double-layer graphene perpendicular narrow slit optical waveguide structure, the first electrode, the second electrode, the light input end and the light output end are formed on the substrate, the double-layer graphene perpendicular narrow slit optical waveguide structure comprises a perpendicular narrow slit optical waveguide composed of a first high refractive index material layer, a low refractive index material layerand a second high refractive index material layer, a first graphene layer, an insulating material layer and a second graphene layer. The narrow slit optical waveguide can improve the limiting effect on a TE mode, so that mode fields distributed in the TE mode in a narrow slit area are increased, the mutual effect of double-layer graphene covering the upper layer is improved, and the modulating efficiency of the modulator is improved. By means of the light modulator made from double-layer graphene, since the transferring speed of a current carrier of the light modulator is high, the response speed of the modulator can be increased.