The invention provides a preparation for controlling ovulation of equine animals and a method for controlling ovulation. The preparation comprises a gonadotropin-releasing hormone analogue and a degradable slow-release carrier in the animal body. By preparing the gonadotropin-releasing hormone as a slow-release preparation, its half-life in the body is effectively prolonged, so that the preparation can play a long-term, efficient and stable role in promoting ovulation. By injecting the preparation of the present invention, more than 96% of mares and donkeys ovulate within 48 hours, and the ovulation time of more than 96% of the animals is controlled within 8 hours, realizing efficient ovulation control of equine animals and significantly improving Breeding pregnancy rates in equines. The ovulation control method of the present invention is easy to operate, low in cost and remarkable in control effect, does not produce any harmful effects on the animal itself and its products, and can be widely used in mating species of equine animals, artificial insemination, embryo transfer and timed insemination, Has broad market prospects.