The invention relates to a process of preparing a liquid flavouring by utilization of a clam enzymolysis product. The process includes a step of temporarily culturing fresh and live clams to completely remove sand from the clams, and heating with steams until shells of the clams are open; a step of taking clam flesh, adding water, mincing, adding aquatic product protease, performing enzymolysis, adding flavourzyme, performing enzymolysis, and adding yeast powder to remove fishy smell; a step of subjecting the enzymolysis liquid the fishy smell of which is removed to enzyme deactivation, centrifuging to obtain liquid supernatant, and keeping the liquid supernatant for further use; a step of subjecting white sugar to caramelization at a high temperature, adding the enzymolysis liquid, modified starch, protein hydrolysate, salt, soy sauce and water, boiling and then stewing; a step of adding xanthan gum and stewing; and a step of adding monosodium glutamate, yeast extract, I+G, sodium cyclamate, citric acid and potassium sorbate after heating is stopped, fully mixing, and bottling when the mixture is still hot to obtain the liquid flavouring. The process utilizes the rich clam resource to develop the novel flavouring with high nutrition value and good flavour for the flavouring market, promotes comprehensive utilization of the clam resource, meets demands of the market, and is simple in operation and low in production cost. Products of the process have high economic value.