The invention discloses a fullerene color-changing lipstick and a preparation method thereof, and relates to the technical field of skin care products. The fullerene color-changing lipstick includes the following components in parts by weight: 10-15 parts of water, 3-6 parts of white beeswax, 1-3 parts of candelilla wax, 4-6 parts of polyethylene, 2-4 parts of polyisobutylene, 1-2 parts of bis-diglyceryl polyacyladipate-2, 2-7 parts of phytosteryl oleate, 7-10 parts of ethylhexyl palmitate, 12-15 parts of cetyl ethyl hexanoate, 18-25 parts of polyglyceryl-2 diisostearate, 8-12 parts of ozokerite, 0.1-1 part of caprylyl glycol, 15-18 parts of polyglyceryl-2 triisostearate, 0.1-0.2 part of fullerene, 0.1-0.15 part of polyvinylpyrrolidone, 5-7 parts of butanediol, 2-3 parts of orange 4, 0.5-0.8 part of red 28, and 0.1-0.2 part of iron black. The fullerene color-changing lipstick provided by the invention is easy to spread, easily develops color, has a good makeup holding effect without lip balm primer, has anti-inflammatory effects, effectively alleviates cleft lip, has no obvious lip lines, modifies lip contour, makes a lip appear a full and soft state, and is very translucent.