The invention discloses an autoclaved aerated concrete building block, which is prepared by adding water into 50 to 55 weight parts of ceramic polishing waste, 10 to 15 weight parts of fine sand, 20 to 24 weight parts of calcined lime, 10 to 20 weight parts of cement, 0.05 to 0.09 weight part of aluminum powder and 3 to 5 weight parts of gypsum. The invention also discloses a preparation method for the autoclaved aerated concrete building block, which comprises the production processes of raw material fetching, slurry preparation, proportioning and pouring, standing and curing in a hot chamber, blank cutting, grouping, autoclaved maintenance, finished product inspection, recycle of waste liquid, waste slag and waste products and the like. The obtained autoclaved aerated concrete building block has the characteristics of high forming speed, light weight, high strength, heat insulation, sound insulation, good fireproof performance, low elasticity, seismic resistance, convenient construction and the like. The preparation method realizes utilization of the ceramic polishing waste, reduces the discharge of wastes of the ceramic industry, and is favorable for protection of ecological environment.