The invention discloses a technology for preparing sesame flavor liquid through yellow water. The technology includes the steps that strains are selected and the selected strains are used for preparing seeds. In the seed preparing step, the yellow water is used as culture mediums, the seeds are prepared into seed liquid, and the yellow water, activated dry yeast, compound protease and saccharifying enzyme are added in the seed liquid for secondary fermentation, wherein the proportion of the seed liquid is 15%, and mixed acid fermentation liquid can be formed after fermentation of the seed liquid; three-effect distilling is performed on the mixed acid fermentation liquid, secondary esterification is performed on remaining liquid formed after three-effect distilling, three-effect distilling is performed on esterified liquid obtained after secondary esterification, and a Maillard reaction is performed on remaining liquid obtained after distilling, wherein water in the remaining liquid is controlled to be 60% to 80%, pH is controlled to be 5-7, the Maillard reaction lasts for 3-5 h, reaction temperature is controlled to be 110-130 DEG C, and the sesame flavor liquid is formed after the Maillard reaction. According to the technology, the yellow water is recycled. Due to the technology, the sesame flavor liquid is produced through the yellow water.