The invention relates to the technical field of medical health care products, in particular to wax mud for wax therapy and a preparation method of the wax mud. The wax mud is prepared from beewax 1, microcrystalline wax, rosin, vaseline, far-infrared ceramic powder, volcanic mud, stone needle powder, horse oil, rose essential oil, chamomile essential oil, peppermint essential oil, wintergreen oil, eucalyptus leaf oil, argy wormwood leaf essential oil, benzoic acid, azone, heat storage agents and Chinese traditional medicinal powder. The Chinese traditional medicinal powder is prepared from safflower flowers, Chinese angelica roots, rhizoma drynariae, roots and rhizome of medicinal rhubarb, peach seeds, common peony roots, rhizoma Chuanxiong, suberect spatholobus stems, sixpetal clematis roots, rhizoma corydalis, tuberculate speranskia herbs, cassiabarktree barks, crude Sichuan aconite roots, radix aconiti, camphor, white mustard seeds, notopterygium roots, double-teeth pubescent angelica roots, borneol, earthworm, common floweringquince fruits, centipede, whole worm, unprocessed rhizoma arisaematis, unprocessed rhizoma pinellia, dried bodies of ground beetle, zaocys dhumnades, hairy orientvine stems, processed nut-vomitive poisonnut seeds, olibanum, myrrh, siebold wildginger herbs and root leaves or flowers of common threewingnut. Raw materials in the wax mud achieve synergistic effects, so that the wax mud has good heat-insulating property and flexibility, and medical components have high permeation and transdermal absorption performances and remarkable medicine efficacy.