The invention relates to a low-density consolidation type plugging agent. The low-density consolidation type plugging agent comprises the following components in parts by weight: 10-20 parts of calcium carbonate, 10-20 parts of shell powder, 20-30 parts of fly ash, 10-20 parts of floating beads, 10-20 parts of hollow glass balls, 0.1-1 part of sodium dodecyl sulfonate, 0.5-1 part of XC biopolymer, 0.5-1 part of polyacrylamide (PAM) and 1-5 parts of calcium hydroxide. A preparation method of the low-density consolidation type plugging agent comprises the following steps: adding the substances into a reaction kettle according to the contents, stirring and mixing for 6-8h at normal pressure and temperature of 40-55 DEG C, then adding into a dryer for drying, and then crushing to form a powdery product of 0.01mm-0.3mm. The low-density consolidation type plugging agent provided by the invention has the advantages of no environmental pollution, low density, a wide adjustable range, strong plugging capability, good flow property, certain coagulability, high success rate of plugging in low-pressure and easy-to-leak strata, scientific and simple process, and safety in construction, can be widely applied in petroleum and geological drilling processes, and is particularly suitable for dropout plugging of low-pressure dropout strata, as well as applications in broken strata and large-crack and carve type dropout strata.